AT&T Inc. $T Stake Lowered by Citizens & Northern Corp

Citizens & Northern Corp reduced its position in AT&T Inc. (NYSE:T) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,047 shares of the technology company’s stock after selling 556 shares during the period. Citizens & Northern Corp’s holdings in AT&T were worth $493,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in T. Stone House Investment Management LLC acquired a new stake in AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC lifted its stake in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Kennebec Savings Bank lifted its stake in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital boosted its holdings in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Wells Fargo & Company decreased their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $30.65.

AT&T Stock Performance

AT&T stock opened at $26.01 on Wednesday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a fifty day moving average price of $28.18 and a two-hundred day moving average price of $27.78. The firm has a market capitalization of $185.98 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.12 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings data 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. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced 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. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is presently 63.07%.

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.