Norway Savings Bank Lowers Stake in AT&T Inc. (NYSE:T)

Norway Savings Bank reduced its holdings in shares of AT&T Inc. (NYSE:T) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,537 shares of the technology company’s stock after selling 2,774 shares during the period. Norway Savings Bank’s holdings in AT&T were worth $1,041,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Newton One Investments LLC purchased a new stake in shares of AT&T in the second quarter valued at about $27,000. IronBridge Private Wealth LLC purchased a new stake in shares of AT&T in the first quarter valued at about $30,000. Activest Wealth Management purchased a new stake in shares of AT&T in the second quarter valued at about $35,000. Interactive Financial Advisors boosted its holdings in shares of AT&T by 36.0% in the second quarter. Interactive Financial Advisors now owns 1,497 shares of the technology company’s stock valued at $83,000 after acquiring an additional 396 shares in the last quarter. Finally, Cypress Point Wealth Management LLC boosted its holdings in shares of AT&T by 4,411.8% in the second quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock valued at $44,000 after acquiring an additional 1,500 shares in the last quarter. 51.42% of the stock is currently owned by institutional investors.

In related news, Director Stephen J. Luczo purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The shares were purchased at an average cost of $25.04 per share, with a total value of $2,504,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.08% of the company’s stock.

T opened at $24.47 on Thursday. The stock has a market capitalization of $174.72 billion, a PE ratio of 203.93, a P/E/G ratio of 2.01 and a beta of 0.70. The firm’s fifty day moving average price is $25.85 and its 200 day moving average price is $27.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 12-month low of $23.96 and a 12-month high of $33.88.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 20th. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.09. The firm had revenue of $39.90 billion for the quarter, compared to analysts’ expectations of $42.37 billion. AT&T had a net margin of 0.67% and a return on equity of 13.47%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 3.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Monday, October 11th were issued a $0.52 dividend. The ex-dividend date was Thursday, October 7th. This represents a $2.08 annualized dividend and a yield of 8.50%. AT&T’s dividend payout ratio is presently 1,733.48%.

Several brokerages recently commented on T. Citigroup reduced their price objective on shares of AT&T from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, October 19th. Barclays reduced their price objective on shares of AT&T from $34.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, October 11th. KeyCorp upgraded shares of AT&T from an “underweight” rating to a “sector weight” rating in a research report on Thursday, October 14th. Moffett Nathanson upgraded shares of AT&T from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $23.00 to $28.00 in a research report on Thursday, October 7th. Finally, Loop Capital began coverage on shares of AT&T in a research report on Monday, September 20th. They set a “hold” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.13.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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