Cape Cod Five Cents Savings Bank Has $550,000 Stock Position in AT&T Inc. (NYSE:T)

Cape Cod Five Cents Savings Bank lowered its position in shares of AT&T Inc. (NYSE:T) by 21.7% in the third quarter, HoldingsChannel reports. The fund owned 25,013 shares of the technology company’s stock after selling 6,912 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in AT&T were worth $550,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Davidson Kempner Capital Management LP acquired a new stake in shares of AT&T in the 2nd quarter valued at approximately $23,888,000. Swiss National Bank boosted its holdings in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares during the last quarter. Caprock Group LLC raised its stake in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the period. Talbot Financial LLC bought a new stake in AT&T in the 3rd quarter valued at $7,438,000. Finally, Mackenzie Financial Corp raised its stake in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Tigress Financial increased their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.73.

AT&T Stock Performance

NYSE:T opened at $23.38 on Tuesday. The stock’s 50-day simple moving average is $22.39 and its 200 day simple moving average is $20.43. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The firm has a market capitalization of $167.76 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. 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 (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts anticipate that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

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.