CNB Bank Purchases 1,930 Shares of AT&T Inc. (NYSE:T)

CNB Bank raised its position in AT&T Inc. (NYSE:T) by 17.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,846 shares of the technology company’s stock after acquiring an additional 1,930 shares during the period. CNB Bank’s holdings in AT&T were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in shares of AT&T by 29.4% during the fourth quarter. Fisher Asset Management LLC now owns 130,844 shares of the technology company’s stock worth $2,196,000 after purchasing an additional 29,757 shares during the last quarter. Salem Investment Counselors Inc. grew its position in AT&T by 16.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 32,833 shares of the technology company’s stock worth $578,000 after purchasing an additional 4,750 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of AT&T during the 1st quarter valued at about $160,000. CHICAGO TRUST Co NA lifted its holdings in shares of AT&T by 1.9% in the 1st quarter. CHICAGO TRUST Co NA now owns 55,108 shares of the technology company’s stock valued at $970,000 after buying an additional 1,054 shares during the period. Finally, AdvisorNet Financial Inc boosted its stake in shares of AT&T by 12.3% in the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock worth $352,000 after buying an additional 2,186 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.6 %

NYSE T opened at $21.85 on Friday. The business has a fifty day moving average price of $20.95 and a 200 day moving average price of $18.97. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market cap of $156.67 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.63 and a beta of 0.60. AT&T Inc. has a one year low of $14.74 and a one year high of $22.34.

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

AT&T Announces Dividend

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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Evercore ISI raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.69.

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.