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

Bangor Savings Bank grew its stake in AT&T Inc. (NYSE:T) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,123 shares of the technology company’s stock after buying an additional 1,298 shares during the period. Bangor Savings Bank’s holdings in AT&T were worth $1,711,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in T. Geode Capital Management LLC boosted its holdings in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the period. FMR LLC increased its stake in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Legal & General Group Plc raised its stake in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after acquiring an additional 1,007,228 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in AT&T by 2.5% during the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $22.59 on Tuesday. 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 Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The stock has a market capitalization of $162.09 billion, a P/E ratio of 18.37, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a 50 day moving average of $22.83 and a 200-day moving average of $21.14.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.91%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

Several brokerages have recently commented on T. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $22.00 to $26.00 in a research note on Monday. Sanford C. Bernstein initiated coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.76.

AT&T Company 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.