Grove Bank & Trust lifted its holdings in shares of AT&T Inc. (NYSE:T) by 11.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,331 shares of the technology company’s stock after purchasing an additional 6,657 shares during the quarter. AT&T comprises about 1.6% of Grove Bank & Trust’s investment portfolio, making the stock its 12th biggest position. Grove Bank & Trust’s holdings in AT&T were worth $2,502,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Taylor Wealth Management Partners raised its position in shares of AT&T by 0.4% in the 1st quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares during the period. Cedar Wealth Management LLC raised its position in shares of AT&T by 0.9% in the 1st quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock worth $228,000 after buying an additional 50 shares during the period. Stratford Consulting LLC raised its position in shares of AT&T by 0.9% in the 2nd quarter. Stratford Consulting LLC now owns 7,277 shares of the technology company’s stock worth $275,000 after buying an additional 68 shares during the period. Headinvest LLC raised its position in shares of AT&T by 0.3% in the 2nd quarter. Headinvest LLC now owns 28,069 shares of the technology company’s stock worth $1,059,000 after buying an additional 74 shares during the period. Finally, Moon Capital Management LLC raised its position in shares of AT&T by 0.3% in the 2nd quarter. Moon Capital Management LLC now owns 21,834 shares of the technology company’s stock worth $824,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

AT&T Inc. (T) opened at 35.54 on Friday. The company has a 50-day moving average price of $37.49 and a 200-day moving average price of $38.19. The firm has a market capitalization of $218.22 billion, a P/E ratio of 16.70 and a beta of 0.49. AT&T Inc. has a 1-year low of $35.10 and a 1-year high of $43.03.

AT&T (NYSE:T) last released its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. On average, equities research analysts predict that AT&T Inc. will post $2.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date is Friday, October 6th. AT&T’s dividend payout ratio is currently 92.45%.

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T has been the topic of several research reports. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $40.58 target price on the stock in a research report on Monday, October 16th. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, October 11th. Macquarie reissued a “buy” rating and issued a $43.00 price objective on shares of AT&T in a research report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of AT&T in a research report on Wednesday, October 11th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $42.00 price objective on shares of AT&T in a research report on Sunday, July 9th. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.57.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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