WASHINGTON TRUST Co Sells 189,650 Shares of AT&T Inc. (NYSE:T)

WASHINGTON TRUST Co cut its position in shares of AT&T Inc. (NYSE:T) by 29.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 451,787 shares of the technology company’s stock after selling 189,650 shares during the quarter. WASHINGTON TRUST Co’s holdings in AT&T were worth $7,581,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Carmel Capital Partners LLC grew its stake in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares in the last quarter. Lipe & Dalton bought a new position in AT&T in the third quarter valued at approximately $30,000. Ramirez Asset Management Inc. bought a new position in AT&T in the third quarter valued at approximately $30,000. FWL Investment Management LLC bought a new position in AT&T in the fourth quarter valued at approximately $31,000. Finally, Financial Freedom LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $34,000. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup raised their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Tigress Financial lifted their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.61.

AT&T Price Performance

T stock traded up $0.30 during midday trading on Wednesday, reaching $17.48. 21,871,058 shares of the stock were exchanged, compared to its average volume of 38,682,352. The stock has a market capitalization of $125.03 billion, a PE ratio of 8.91, a P/E/G ratio of 2.58 and a beta of 0.57. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $19.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The company has a fifty day moving average price of $17.07 and a 200 day moving average price of $16.24.

AT&T (NYSE:T) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

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.