First County Bank CT Cuts Stake in AT&T Inc. (NYSE:T)

First County Bank CT cut its stake in AT&T Inc. (NYSE:T) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,417 shares of the technology company’s stock after selling 8,026 shares during the quarter. First County Bank CT’s holdings in AT&T were worth $1,537,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its stake in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management lifted its stake in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. The Goldman Sachs Group began coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.31.

AT&T Trading Up 0.5 %

Shares of NYSE:T opened at $21.66 on Friday. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The company’s 50 day moving average is $20.09 and its two-hundred day moving average is $18.46. The company has a market cap of $155.31 billion, a PE ratio of 11.65, a P/E/G ratio of 3.66 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. Equities analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.