First Citizens Bank & Trust Co. Reduces Stock Holdings in AT&T Inc. (NYSE:T)

First Citizens Bank & Trust Co. reduced its position in AT&T Inc. (NYSE:T) by 7.5% in the 4th quarter, according to the company in its most recent 13F 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Smith Chas P & Associates PA Cpas raised its position in shares of AT&T by 16.0% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 29,661 shares of the technology company’s stock valued at $675,000 after buying an additional 4,082 shares during the last quarter. Patton Albertson Miller Group LLC boosted its stake in AT&T by 38.2% during the fourth quarter. Patton Albertson Miller Group LLC now owns 14,569 shares of the technology company’s stock worth $332,000 after buying an additional 4,024 shares during the period. Insight Inv LLC boosted its stake in AT&T by 16.4% during the fourth quarter. Insight Inv LLC now owns 59,757 shares of the technology company’s stock worth $1,361,000 after buying an additional 8,403 shares during the period. Stewardship Advisors LLC purchased a new position in AT&T during the fourth quarter worth about $204,000. Finally, First Bancorp Inc ME lifted its position in shares of AT&T by 7.9% during the fourth quarter. First Bancorp Inc ME now owns 32,893 shares of the technology company’s stock worth $749,000 after purchasing an additional 2,397 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $22.69 on Monday. The business’s 50 day moving average is $22.80 and its two-hundred day moving average is $21.46. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The firm has a market cap of $162.77 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.50 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T Dividend Announcement

The firm 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 $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on T shares. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $22.00 to $26.00 in a research report on Monday, January 6th. The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

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.