Norway Savings Bank boosted its position in shares of AT&T Inc. (NYSE:T) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,036 shares of the technology company’s stock after buying an additional 4,149 shares during the period. Norway Savings Bank’s holdings in AT&T were worth $1,341,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. grew its position in AT&T by 1.2% during the 3rd quarter. Steigerwald Gordon & Koch Inc. now owns 252,508 shares of the technology company’s stock worth $7,199,000 after purchasing an additional 3,008 shares during the last quarter. Winfield Associates Inc. raised its holdings in shares of AT&T by 52.0% in the third quarter. Winfield Associates Inc. now owns 13,376 shares of the technology company’s stock valued at $381,000 after buying an additional 4,575 shares during the last quarter. CRA Financial Services LLC boosted its stake in shares of AT&T by 2.0% during the third quarter. CRA Financial Services LLC now owns 41,688 shares of the technology company’s stock worth $1,189,000 after buying an additional 805 shares during the period. TRH Financial LLC grew its holdings in shares of AT&T by 23.2% during the third quarter. TRH Financial LLC now owns 76,263 shares of the technology company’s stock worth $2,174,000 after buying an additional 14,374 shares during the last quarter. Finally, BTC Capital Management Inc. grew its holdings in shares of AT&T by 1.9% during the third quarter. BTC Capital Management Inc. now owns 142,657 shares of the technology company’s stock worth $4,067,000 after buying an additional 2,664 shares during the last quarter. Institutional investors own 52.29% of the company’s stock.
T has been the subject of a number of recent research reports. Bank of America reaffirmed a “buy” rating and set a $36.00 price objective on shares of AT&T in a research report on Friday, July 24th. Morgan Stanley decreased their price target on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research report on Monday, October 5th. Finally, Barclays began coverage on shares of AT&T in a research note on Friday, October 2nd. They issued an “overweight” rating for the company. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $33.56.
In other news, Director Stephen J. Luczo acquired 100,000 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were bought at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.
T stock opened at $27.33 on Friday. The business has a fifty day simple moving average of $28.84 and a 200-day simple moving average of $29.74. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The company has a market cap of $194.73 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.64 and a beta of 0.69.
AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the prior year, the company earned $0.89 EPS. The firm’s revenue was down 8.9% on a year-over-year basis. As a group, analysts expect that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a $0.52 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.61%. AT&T’s dividend payout ratio (DPR) is currently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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