Bangor Savings Bank Purchases 1,298 Shares of AT&T Inc. (NYSE:T)

Bangor Savings Bank increased its position in AT&T Inc. (NYSE:T) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,123 shares of the technology company’s stock after purchasing an additional 1,298 shares during the quarter. Bangor Savings Bank’s holdings in AT&T were worth $1,711,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Davidson Kempner Capital Management LP acquired a new stake in shares of AT&T in the second quarter valued at approximately $23,888,000. Swiss National Bank lifted its holdings in AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. boosted its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the period. Caprock Group LLC raised its position in shares of AT&T by 18.3% in the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. Finally, Talbot Financial LLC acquired a new stake in AT&T during the third quarter worth approximately $7,438,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on T shares. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein assumed coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Barclays upped their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Stock Down 0.4 %

Shares of NYSE T opened at $22.59 on Tuesday. The company’s fifty day simple moving average is $22.83 and its 200 day simple moving average is $21.14. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The firm has a market cap of $162.09 billion, a PE ratio of 18.37, a P/E/G ratio of 3.60 and a beta of 0.59. 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 issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.91%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.