AMG National Trust Bank Buys 83,048 Shares of AT&T Inc. (NYSE:T)

AMG National Trust Bank increased its stake in shares of AT&T Inc. (NYSE:T) by 130.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,547 shares of the technology company’s stock after purchasing an additional 83,048 shares during the quarter. AMG National Trust Bank’s holdings in AT&T were worth $3,224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in T. Strategic Financial Concepts LLC grew its holdings in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. American Capital Advisory LLC lifted its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T in the second quarter worth $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $22.99 on Tuesday. AT&T Inc. has a 1-year low of $15.85 and a 1-year high of $23.20. The company has a market cap of $164.96 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 3.40 and a beta of 0.59. The company’s fifty day moving average price is $21.92 and its two-hundred day moving average price is $19.79. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.83%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

T has been the subject of several analyst reports. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Oppenheimer raised their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Barclays boosted their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T 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.