AMG National Trust Bank Purchases 83,048 Shares of AT&T Inc. (NYSE:T)

AMG National Trust Bank boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 130.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,547 shares of the technology company's stock after acquiring an additional 83,048 shares during the quarter. AMG National Trust Bank's holdings in AT&T were worth $3,224,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Socha Financial Group LLC lifted its holdings in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company's stock worth $415,000 after buying an additional 461 shares during the last quarter. Essex Savings Bank boosted its holdings in AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company's stock valued at $476,000 after purchasing an additional 480 shares in the last quarter. Hayek Kallen Investment Management raised its stake in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company's stock worth $1,326,000 after acquiring an additional 500 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in AT&T by 0.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company's stock valued at $1,618,000 after purchasing an additional 513 shares during the last quarter. Finally, Spinnaker Trust grew its position in AT&T by 0.4% during the 3rd quarter. Spinnaker Trust now owns 124,593 shares of the technology company's stock worth $2,741,000 after acquiring an additional 515 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 1.1 %

Shares of NYSE:T traded down $0.25 during mid-day trading on Tuesday, reaching $22.74. 15,611,950 shares of the company's stock were exchanged, compared to its average volume of 35,419,422. AT&T Inc. has a twelve month low of $15.85 and a twelve month high of $23.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of $163.17 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.40 and a beta of 0.59. The business's fifty day moving average price is $21.92 and its 200-day moving average price is $19.79.

AT&T (NYSE:T - Get Free Report) last announced 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 for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.64 EPS. On average, research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.88%. AT&T's dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Scotiabank downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Citigroup upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Barclays upped their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Redburn Atlantic raised shares of AT&T to a "strong sell" rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.40.

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.