AT&T Inc. (NYSE:T) Shares Purchased by AMG National Trust Bank

AMG National Trust Bank grew its position in shares of AT&T Inc. (NYSE:T) by 130.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 146,547 shares of the technology company’s stock after acquiring an additional 83,048 shares during the quarter. AMG National Trust Bank’s holdings in AT&T were worth $3,224,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of T. Socha Financial Group LLC grew its holdings in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the last quarter. Essex Savings Bank grew its holdings in AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares during the last quarter. Hayek Kallen Investment Management increased its position in AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after acquiring an additional 513 shares during the last quarter. Finally, Spinnaker Trust lifted its position in shares of AT&T by 0.4% during the third quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock worth $2,741,000 after purchasing an additional 515 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.4 %

T stock opened at $22.99 on Tuesday. AT&T Inc. has a 52 week low of $15.85 and a 52 week high of $23.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company’s 50-day simple moving average is $21.92 and its 200 day simple moving average is $19.79. The company has a market capitalization of $164.96 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 3.40 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 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is presently 90.24%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on T. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Evercore ISI lifted their target price 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. JPMorgan Chase & Co. upped their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Barclays boosted their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.