Bath Savings Trust Co Trims Holdings in AT&T Inc. (NYSE:T)

Bath Savings Trust Co lessened its holdings in shares of AT&T Inc. (NYSE:T) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,467 shares of the technology company’s stock after selling 2,310 shares during the period. Bath Savings Trust Co’s holdings in AT&T were worth $773,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. First Bank & Trust grew its stake in shares of AT&T by 7.0% in the 2nd quarter. First Bank & Trust now owns 164,097 shares of the technology company’s stock worth $2,617,000 after buying an additional 10,763 shares during the last quarter. MJP Associates Inc. ADV grew its stake in shares of AT&T by 11.5% in the 2nd quarter. MJP Associates Inc. ADV now owns 16,154 shares of the technology company’s stock worth $258,000 after buying an additional 1,668 shares during the last quarter. Affiance Financial LLC lifted its position in AT&T by 8.5% in the 2nd quarter. Affiance Financial LLC now owns 17,154 shares of the technology company’s stock valued at $274,000 after acquiring an additional 1,348 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its position in AT&T by 9.8% in the 2nd quarter. Capital Advisors Wealth Management LLC now owns 12,156 shares of the technology company’s stock valued at $194,000 after acquiring an additional 1,085 shares in the last quarter. Finally, Advisory Resource Group lifted its position in AT&T by 2.5% in the 2nd quarter. Advisory Resource Group now owns 43,523 shares of the technology company’s stock valued at $694,000 after acquiring an additional 1,043 shares in the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.

AT&T Stock Down 0.5 %

T stock traded down $0.08 during trading on Monday, hitting $15.15. 14,745,665 shares of the company’s stock traded hands, compared to its average volume of 38,937,055. The firm has a market capitalization of $108.31 billion, a P/E ratio of -12.48, a PEG ratio of 1.85 and a beta of 0.64. The business has a fifty day simple moving average of $14.46 and a two-hundred day simple moving average of $16.33. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $20.50.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The business had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.43 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 7.33%. The ex-dividend date was Friday, July 7th. AT&T’s dividend payout ratio is currently -90.98%.

Analyst Ratings Changes

T has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Royal Bank of Canada lowered their price target on AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, August 10th. HSBC reduced their price objective on AT&T from $21.00 to $19.00 in a research note on Monday, June 5th. Citigroup upgraded AT&T from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, August 29th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $20.00 price objective on shares of AT&T in a research note on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

About AT&T

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.