Community Bank N.A. grew its position in AT&T Inc. (NYSE:T) by 15.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,325 shares of the technology company’s stock after acquiring an additional 38,588 shares during the period. AT&T comprises about 1.5% of Community Bank N.A.’s portfolio, making the stock its 14th largest holding. Community Bank N.A.’s holdings in AT&T were worth $8,744,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lion Street Advisors LLC acquired a new stake in AT&T in the 1st quarter worth about $27,000. Horan Securities Inc. acquired a new position in AT&T during the 1st quarter worth approximately $28,000. CBIZ Investment Advisory Services LLC increased its position in AT&T by 186.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock worth $28,000 after purchasing an additional 623 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in AT&T during the 1st quarter worth approximately $34,000. Finally, Efficient Wealth Management LLC acquired a new position in AT&T during the first quarter worth $35,000. 53.74% of the stock is owned by institutional investors.
NYSE:T traded up $0.01 on Friday, reaching $29.58. 38,694,208 shares of the company’s stock were exchanged, compared to its average volume of 32,539,284. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $212.40 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.67 and a beta of 0.72. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The stock has a fifty day simple moving average of $30.01 and a 200-day simple moving average of $32.47.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.08 dividend on an annualized basis and a yield of 7.03%. AT&T’s dividend payout ratio is presently 58.26%.
In other news, Director Stephen J. Luczo acquired 100,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was bought at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company insiders.
Several research firms have weighed in on T. Royal Bank of Canada lowered their price objective on shares of AT&T from $38.00 to $32.00 in a report on Friday, July 24th. Credit Suisse Group lowered their price objective on shares of AT&T from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Wells Fargo & Co lowered their target price on shares of AT&T from $36.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, April 3rd. Scotiabank increased their target price on shares of AT&T from $33.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Finally, Nomura lowered their target price on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $35.29.
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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