AT&T Inc. (NYSE:T) Position Increased by Bar Harbor Wealth Management

Bar Harbor Wealth Management increased its stake in shares of AT&T Inc. (NYSE:T) by 3.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,841 shares of the technology company’s stock after acquiring an additional 1,001 shares during the period. Bar Harbor Wealth Management’s holdings in AT&T were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC lifted its position in AT&T by 5,378.3% in the 2nd quarter. Quest Partners LLC now owns 3,780 shares of the technology company’s stock valued at $72,000 after purchasing an additional 3,711 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in shares of AT&T by 32.9% in the second quarter. Thoroughbred Financial Services LLC now owns 19,491 shares of the technology company’s stock valued at $372,000 after purchasing an additional 4,824 shares during the period. Retirement Planning Co of New England Inc. raised its holdings in shares of AT&T by 12.1% during the second quarter. Retirement Planning Co of New England Inc. now owns 12,039 shares of the technology company’s stock valued at $230,000 after buying an additional 1,297 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of AT&T by 217.9% during the second quarter. WINTON GROUP Ltd now owns 71,245 shares of the technology company’s stock worth $1,361,000 after buying an additional 48,831 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in shares of AT&T by 32.6% during the second quarter. Brown Brothers Harriman & Co. now owns 113,685 shares of the technology company’s stock worth $2,173,000 after buying an additional 27,970 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Sanford C. Bernstein began coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.76.

AT&T Trading Down 0.6 %

NYSE:T opened at $21.56 on Tuesday. The stock has a fifty day simple moving average of $22.81 and a 200 day simple moving average of $21.26. The firm has a market capitalization of $154.70 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.15%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.