Community Bank N.A. trimmed its holdings in AT&T Inc. (NYSE:T – Free Report) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,386 shares of the technology company’s stock after selling 3,019 shares during the period. Community Bank N.A.’s holdings in AT&T were worth $4,148,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. NorthRock Partners LLC boosted its stake in AT&T by 1.2% in the 2nd quarter. NorthRock Partners LLC now owns 81,435 shares of the technology company’s stock worth $2,357,000 after buying an additional 970 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in AT&T by 11.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 81,862 shares of the technology company’s stock worth $2,369,000 after buying an additional 8,599 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in AT&T by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 621,774 shares of the technology company’s stock worth $17,994,000 after buying an additional 3,300 shares during the last quarter. Astoria Portfolio Advisors LLC. acquired a new stake in AT&T in the 2nd quarter worth about $313,000. Finally, Sequoia Financial Advisors LLC boosted its stake in AT&T by 6.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 403,893 shares of the technology company’s stock worth $11,689,000 after buying an additional 26,147 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
T has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Bank of America started coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Finally, Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.75.
AT&T Stock Performance
AT&T stock opened at $25.57 on Tuesday. The stock’s 50 day moving average price is $28.41 and its 200 day moving average price is $27.86. The firm has a market capitalization of $182.80 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79.
AT&T (NYSE:T – Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T’s payout ratio is 63.07%.
AT&T Company Profile
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.
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