Penobscot Investment Management Company Inc. Sells 1,234 Shares of AT&T Inc. (NYSE:T)

Penobscot Investment Management Company Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,474 shares of the technology company’s stock after selling 1,234 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in AT&T were worth $990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of T. GQG Partners LLC lifted its stake in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Assetmark Inc. lifted its stake in shares of AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after acquiring an additional 9,719,036 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after acquiring an additional 6,220,442 shares in the last quarter. Bank of New York Mellon Corp grew its position in AT&T by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after acquiring an additional 5,649,277 shares during the last quarter. Finally, Amundi increased its holdings in AT&T by 19.8% in the 4th quarter. Amundi now owns 33,963,826 shares of the technology company’s stock worth $753,318,000 after purchasing an additional 5,614,168 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $27.65 on Thursday. The firm has a market capitalization of $198.48 billion, a P/E ratio of 18.56, a P/E/G ratio of 3.00 and a beta of 0.56. The firm’s 50-day moving average price is $25.46 and its 200-day moving average price is $23.43. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $27.97.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Tigress Financial boosted their price target on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. DZ Bank raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 29th. Royal Bank of Canada raised their price target on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.79.

About AT&T

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.