AT&T Inc. (NYSE:T) Shares Purchased by Norway Savings Bank
Norway Savings Bank grew its holdings in shares of AT&T Inc. (NYSE:T) by 9.7% in the third quarter, HoldingsChannel reports. The fund owned 47,036 shares of the technology company’s stock after buying an additional 4,149 shares during the period. Norway Savings Bank’s holdings in AT&T were worth $1,341,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC lifted its stake in shares of AT&T by 10.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock worth $37,000 after acquiring an additional 1,248 shares during the period. NWK Group Inc. bought a new stake in AT&T during the second quarter worth approximately $65,000. JJJ Advisors Inc. lifted its position in AT&T by 212.3% in the second quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,507 shares during the period. Provident Wealth Management LLC bought a new position in AT&T during the 3rd quarter valued at $70,000. Finally, Litman Gregory Asset Management LLC boosted its stake in AT&T by 844.0% during the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,667 shares in the last quarter. 52.29% of the stock is owned by institutional investors.
In other news, Director Stephen J. Luczo acquired 100,000 shares of AT&T stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average price of $29.69 per share, with a total value of $2,969,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by company insiders.
AT&T (NYSE:T) last released its quarterly earnings data 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. The firm had revenue of $40.95 billion for the quarter, compared to analyst estimates of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. Sell-side analysts predict that AT&T Inc. will post 3.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date is Thursday, October 8th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
T has been the subject of several research analyst reports. Barclays began coverage on AT&T in a report on Friday, October 2nd. They issued an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Oppenheimer reaffirmed a “buy” rating and issued a $38.00 price objective on shares of AT&T in a research note on Thursday, October 1st. Scotiabank lowered shares of AT&T from a “sector perform” rating to a “sector underperform” rating and cut their target price for the company from $34.00 to $30.00 in a research note on Monday, August 31st. Finally, Bank of America restated a “buy” rating and set a $36.00 target price on shares of AT&T in a report on Friday, July 24th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $33.56.
AT&T Company Profile
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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