First Citizens Bank & Trust Co. Sells 9,062 Shares of AT&T Inc. (NYSE:T)

First Citizens Bank & Trust Co. trimmed its position in AT&T Inc. (NYSE:T) by 7.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,571 shares of the technology company’s stock after selling 9,062 shares during the period. First Citizens Bank & Trust Co.’s holdings in AT&T were worth $2,563,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T during the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the fourth quarter worth approximately $34,000. Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of AT&T in the third quarter worth approximately $35,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on T shares. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $22.00 to $26.00 in a research report on Monday, January 6th. Citigroup raised their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $28.00 in a research note on Monday, December 16th. Finally, Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Trading Up 0.7 %

NYSE T opened at $22.69 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market cap of $162.77 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. The company has a 50 day moving average price of $22.80 and a 200 day moving average price of $21.46. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, January 10th. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.