First Western Trust Bank Invests $221,000 in AT&T Inc. (NYSE:T)

First Western Trust Bank purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, Holdings Channel reports. The fund purchased 10,050 shares of the technology company’s stock, valued at approximately $221,000.

Other hedge funds have also added to or reduced their stakes in the company. Davidson Kempner Capital Management LP acquired a new stake in AT&T during the 2nd quarter worth $23,888,000. Talbot Financial LLC bought a new position in shares of AT&T in the 3rd quarter worth $7,438,000. Mackenzie Financial Corp grew its stake in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC increased its holdings in AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in AT&T by 7.2% in the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after buying an additional 26,706 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.9 %

Shares of AT&T stock opened at $22.68 on Monday. AT&T Inc. has a 52-week low of $15.75 and a 52-week high of $22.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The business’s 50 day simple moving average is $21.89 and its 200 day simple moving average is $19.75. The firm has a market cap of $162.74 billion, a PE ratio of 18.44, a P/E/G ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of several analyst reports. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Oppenheimer boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

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.