AMG National Trust Bank Grows Stock Position in AT&T Inc. $T

AMG National Trust Bank lifted its stake in AT&T Inc. (NYSE:T) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,628 shares of the technology company’s stock after purchasing an additional 466 shares during the quarter. AMG National Trust Bank’s holdings in AT&T were worth $4,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the second quarter valued at approximately $26,000. Solstein Capital LLC increased its holdings in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Kennebec Savings Bank increased its holdings in shares of AT&T by 412.1% in the second 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, Hager Investment Management Services LLC increased its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on T shares. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Barclays decreased their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price target on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company reduced their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Price Performance

T stock opened at $24.66 on Friday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock’s 50 day moving average price is $27.65 and its 200 day moving average price is $27.72. The firm has a market cap of $176.35 billion, a P/E ratio of 8.01, a PEG ratio of 2.16 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

About AT&T

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.