Community Bank N.A. Has $2.76 Million Stake in AT&T Inc. (NYSE:T)

Community Bank N.A. trimmed its stake in AT&T Inc. (NYSE:T) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,307 shares of the technology company’s stock after selling 12,575 shares during the period. Community Bank N.A.’s holdings in AT&T were worth $2,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Newport Trust Company LLC lifted its holdings in shares of AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after acquiring an additional 673,043 shares during the period. Northern Trust Corp lifted its holdings in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after acquiring an additional 1,828,237 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock worth $905,258,000 after acquiring an additional 334,222 shares during the period. FMR LLC lifted its holdings in shares of AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after acquiring an additional 32,558,342 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after acquiring an additional 34,189,954 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on T shares. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. Barclays lifted their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Tigress Financial lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

AT&T Stock Up 1.9 %

T traded up $0.31 during trading on Wednesday, reaching $16.81. The company had a trading volume of 74,184,828 shares, compared to its average volume of 39,342,547. The business’s fifty day moving average price is $16.98 and its 200 day moving average price is $16.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The company has a market cap of $120.24 billion, a P/E ratio of 8.58, a PEG ratio of 2.46 and a beta of 0.57. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the prior year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 56.63%.

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.