Passumpsic Savings Bank Purchases 1,893 Shares of AT&T Inc. (NYSE:T)

Passumpsic Savings Bank boosted its stake in shares of AT&T Inc. (NYSE:T) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,369 shares of the technology company’s stock after acquiring an additional 1,893 shares during the period. Passumpsic Savings Bank’s holdings in AT&T were worth $382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Strategic Financial Concepts LLC lifted its holdings in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the 3rd quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. raised its stake in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC grew its position in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $23.47 on Wednesday. The stock has a market cap of $168.40 billion, a PE ratio of 19.13, a P/E/G ratio of 3.63 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The stock’s 50 day simple moving average is $22.39 and its 200-day simple moving average is $20.43.

AT&T (NYSE:T) last announced its quarterly 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 business 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%. AT&T’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The firm 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. This represents a $1.11 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several analysts have recently commented on T shares. Barclays upped their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Sanford C. Bernstein started coverage on shares of AT&T in a research note on Tuesday. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.00.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.