38,902 Shares in AT&T Inc. (NYSE:T) Purchased by American National Bank & Trust Co. VA

American National Bank & Trust Co. VA purchased a new position in AT&T Inc. (NYSE:T) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,902 shares of the technology company’s stock, valued at approximately $684,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after acquiring an additional 598 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the last quarter. JB Capital LLC boosted its position in shares of AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after buying an additional 614 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of AT&T by 1.5% during the first quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after buying an additional 614 shares during the last quarter. Finally, Connecticut Wealth Management LLC boosted its position in shares of AT&T by 3.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after buying an additional 620 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.7 %

AT&T stock traded down $0.14 during mid-day trading on Thursday, hitting $18.68. The company’s stock had a trading volume of 19,462,997 shares, compared to its average volume of 33,098,884. The company has a 50 day moving average of $17.71 and a 200-day moving average of $17.22. The stock has a market cap of $133.94 billion, a PE ratio of 10.04, a P/E/G ratio of 4.27 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a one year low of $13.43 and a one year high of $19.32.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

Several research analysts have issued reports on T shares. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. UBS Group reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

About AT&T

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.