First Commonwealth Financial Corp PA Has $355,000 Stock Position in AT&T Inc. (NYSE:T)

First Commonwealth Financial Corp PA cut its holdings in shares of AT&T Inc. (NYSE:T) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,130 shares of the technology company’s stock after selling 3,594 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in AT&T were worth $355,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Strategic Financial Concepts LLC raised its stake in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the period. American Capital Advisory LLC raised its position in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T in the second quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 0.8 %

NYSE T opened at $23.27 on Thursday. The stock’s 50 day simple moving average is $22.10 and its 200 day simple moving average is $20.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38. The firm has a market cap of $166.97 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

Analysts Set New Price Targets

T has been the topic of several research reports. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Citigroup boosted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Barclays raised their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

AT&T Company Profile

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.