Community Bank N.A. Acquires 1,740 Shares of AT&T Inc. (NYSE:T)

Community Bank N.A. grew its holdings in shares of AT&T Inc. (NYSE:T) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,450 shares of the technology company’s stock after purchasing an additional 1,740 shares during the period. Community Bank N.A.’s holdings in AT&T were worth $3,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Concentric Capital Strategies LP bought a new position in AT&T during the 3rd quarter worth $1,978,000. Benjamin Edwards Inc. increased its position in shares of AT&T by 1,855.5% in the third quarter. Benjamin Edwards Inc. now owns 92,810 shares of the technology company’s stock worth $2,042,000 after purchasing an additional 88,064 shares during the period. Paloma Partners Management Co increased its position in shares of AT&T by 141.8% in the third quarter. Paloma Partners Management Co now owns 31,038 shares of the technology company’s stock worth $683,000 after purchasing an additional 105,338 shares during the period. Kestra Investment Management LLC acquired a new position in AT&T in the third quarter valued at about $382,000. Finally, Paradigm Capital Management LLC NV acquired a new stake in AT&T during the third quarter worth about $1,270,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

AT&T Price Performance

AT&T stock opened at $23.16 on Monday. The firm has a market cap of $166.18 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.48 and a beta of 0.59. The stock’s 50 day moving average is $22.17 and its 200 day moving average is $20.17. 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.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. AT&T’s payout ratio is currently 90.24%.

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.