Camden National Bank trimmed its stake in shares of AT&T Inc. (NYSE:T) by 95.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,773 shares of the technology company’s stock after selling 219,573 shares during the period. Camden National Bank’s holdings in AT&T were worth $369,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Grimes & Company Inc. raised its holdings in AT&T by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock valued at $1,132,000 after acquiring an additional 294 shares during the last quarter. Interactive Financial Advisors raised its holdings in AT&T by 16.7% in the 2nd quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after acquiring an additional 300 shares during the last quarter. Berkshire Money Management Inc. raised its holdings in AT&T by 3.2% in the 2nd quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after acquiring an additional 305 shares during the last quarter. Oxbow Advisors LLC raised its holdings in AT&T by 0.4% in the 2nd quarter. Oxbow Advisors LLC now owns 86,471 shares of the technology company’s stock valued at $2,898,000 after acquiring an additional 305 shares during the last quarter. Finally, Lenox Wealth Management Inc. raised its holdings in AT&T by 6.0% in the 2nd quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after acquiring an additional 308 shares during the last quarter. Institutional investors own 53.02% of the company’s stock.
Shares of NYSE T opened at $37.58 on Friday. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $38.75. The firm has a fifty day moving average of $36.72 and a 200-day moving average of $33.57. The stock has a market capitalization of $274.52 billion, a PE ratio of 10.68, a P/E/G ratio of 2.36 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.
AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.51 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.43%. AT&T’s dividend payout ratio (DPR) is 57.95%.
In related news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on T. ValuEngine downgraded AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. set a $39.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Thursday, July 25th. Finally, Bank of America reissued a “buy” rating on shares of AT&T in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.43.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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