AT&T Inc. $T Shares Sold by Community Bank N.A.

Community Bank N.A. cut its holdings in shares of AT&T Inc. (NYSE:T) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,386 shares of the technology company’s stock after selling 3,019 shares during the quarter. Community Bank N.A.’s holdings in AT&T were worth $4,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T during the 2nd quarter worth approximately $5,266,758,000. GQG Partners LLC increased its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in AT&T by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 1.2%

Shares of AT&T stock opened at $25.57 on Tuesday. The stock has a 50-day moving average price of $28.41 and a 200 day moving average price of $27.86. The company has a market cap of $182.80 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.10 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Bank of America began coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. 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 assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T 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.