AT&T Inc. (NYSE:T) Holdings Lowered by First Bancorp Inc ME

First Bancorp Inc ME cut its stake in AT&T Inc. (NYSE:T) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,496 shares of the technology company’s stock after selling 3,733 shares during the period. First Bancorp Inc ME’s holdings in AT&T were worth $671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Mercer Global Advisors Inc. ADV raised its holdings in shares of AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. increased its stake in shares of AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in AT&T during the second quarter valued at $78,570,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on T. Wells Fargo & Company increased their price target on shares of AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Barclays increased their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Oppenheimer raised their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.69.

AT&T Price Performance

Shares of T stock traded up $0.12 during trading hours on Friday, hitting $21.85. 27,277,372 shares of the company’s stock were exchanged, compared to its average volume of 35,539,133. The stock’s 50-day moving average is $20.95 and its 200-day moving average is $18.96. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.34. The stock has a market cap of $156.67 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. AT&T’s payout ratio is presently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.