Norway Savings Bank cut its stake in shares of AT&T Inc. (NYSE:T) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,537 shares of the technology company’s stock after selling 2,774 shares during the quarter. Norway Savings Bank’s holdings in AT&T were worth $1,041,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Newton One Investments LLC acquired a new position in AT&T during the second quarter valued at $27,000. IronBridge Private Wealth LLC acquired a new position in AT&T during the first quarter valued at $30,000. Activest Wealth Management acquired a new position in AT&T during the second quarter valued at $35,000. Interactive Financial Advisors lifted its position in AT&T by 36.0% during the second quarter. Interactive Financial Advisors now owns 1,497 shares of the technology company’s stock valued at $83,000 after purchasing an additional 396 shares during the period. Finally, Cypress Point Wealth Management LLC lifted its position in AT&T by 4,411.8% during the second quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock valued at $44,000 after purchasing an additional 1,500 shares during the period. 51.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on T shares. Barclays decreased their target price on shares of AT&T from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, October 11th. KeyCorp upgraded shares of AT&T from an “underweight” rating to a “sector weight” rating in a research report on Thursday, October 14th. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $28.00 in a research report on Thursday, October 7th. Loop Capital initiated coverage on shares of AT&T in a research report on Monday, September 20th. They issued a “hold” rating and a $30.00 price objective for the company. Finally, Citigroup decreased their price objective on shares of AT&T from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, October 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.13.
Shares of NYSE T opened at $24.47 on Thursday. AT&T Inc. has a 12-month low of $23.96 and a 12-month high of $33.88. The stock has a market cap of $174.72 billion, a PE ratio of 203.93, a P/E/G ratio of 2.01 and a beta of 0.70. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average of $25.85 and a 200 day moving average of $27.66.
AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 20th. The technology company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.09. AT&T had a net margin of 0.67% and a return on equity of 13.47%. The business had revenue of $39.90 billion during the quarter, compared to analysts’ expectations of $42.37 billion. During the same quarter in the prior year, the company posted $0.76 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 3.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Monday, October 11th were paid a $0.52 dividend. The ex-dividend date was Thursday, October 7th. This represents a $2.08 annualized dividend and a dividend yield of 8.50%. AT&T’s dividend payout ratio (DPR) is 1,733.48%.
AT&T Company Profile
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
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