Community Bank N.A. Grows Stock Position in AT&T Inc. (NYSE:T)

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Community Bank N.A. grew its holdings in shares of AT&T Inc. (NYSE:T) by 15.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 289,325 shares of the technology company’s stock after purchasing an additional 38,588 shares during the quarter. AT&T makes up approximately 1.5% of Community Bank N.A.’s investment portfolio, making the stock its 14th largest position. Community Bank N.A.’s holdings in AT&T were worth $8,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Cubist Systematic Strategies LLC increased its position in shares of AT&T by 417.0% during the 4th quarter. Cubist Systematic Strategies LLC now owns 19,992 shares of the technology company’s stock valued at $781,000 after purchasing an additional 16,125 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of AT&T by 17.3% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,231 shares of the technology company’s stock valued at $356,000 after acquiring an additional 1,800 shares during the period. Stillwater Investment Management LLC grew its stake in shares of AT&T by 11.1% during the 1st quarter. Stillwater Investment Management LLC now owns 11,848 shares of the technology company’s stock valued at $345,000 after acquiring an additional 1,186 shares during the period. IMS Capital Management grew its stake in shares of AT&T by 65.6% during the 1st quarter. IMS Capital Management now owns 31,122 shares of the technology company’s stock valued at $907,000 after acquiring an additional 12,326 shares during the period. Finally, Wiley BROS. Aintree Capital LLC grew its stake in shares of AT&T by 55.6% during the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 18,674 shares of the technology company’s stock valued at $544,000 after acquiring an additional 6,670 shares during the period. 53.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE T traded up $0.01 during midday trading on Friday, reaching $29.58. 38,694,208 shares of the stock traded hands, compared to its average volume of 32,539,284. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $212.40 billion, a PE ratio of 18.15, a P/E/G ratio of 1.67 and a beta of 0.72. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70. The company’s 50 day moving average is $30.01 and its 200 day moving average is $32.47.

AT&T (NYSE:T) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company had revenue of $40.95 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. AT&T’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, equities analysts forecast that AT&T Inc. will post 3.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.08 annualized dividend and a yield of 7.03%. AT&T’s payout ratio is presently 58.26%.

In related news, Director Stephen J. Luczo purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.

A number of research analysts recently issued reports on T shares. SunTrust Banks cut their price objective on AT&T from $36.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 3rd. UBS Group cut their price objective on AT&T from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Cfra cut their price objective on AT&T from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Zacks Investment Research downgraded AT&T from a “hold” rating to a “sell” rating and set a $33.00 price target for the company. in a research note on Wednesday, May 27th. Finally, Deutsche Bank dropped their price target on AT&T from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $35.29.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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