AT&T Inc. (NYSE:T) Position Increased by Bar Harbor Wealth Management

Bar Harbor Wealth Management lifted its position in AT&T Inc. (NYSE:T) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,840 shares of the technology company’s stock after acquiring an additional 684 shares during the period. Bar Harbor Wealth Management’s holdings in AT&T were worth $700,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in T. Secure Asset Management LLC grew its holdings in shares of AT&T by 11.4% during the third quarter. Secure Asset Management LLC now owns 40,539 shares of the technology company’s stock valued at $892,000 after buying an additional 4,137 shares in the last quarter. Marshall Financial Group LLC purchased a new position in AT&T during the 3rd quarter valued at about $317,000. Bleakley Financial Group LLC increased its holdings in shares of AT&T by 6.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 265,512 shares of the technology company’s stock valued at $5,841,000 after purchasing an additional 16,499 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of AT&T by 5.8% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 85,025 shares of the technology company’s stock worth $1,871,000 after purchasing an additional 4,678 shares during the period. Finally, Patton Fund Management Inc. purchased a new position in AT&T during the third quarter valued at approximately $5,194,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.6 %

Shares of NYSE:T opened at $21.85 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock’s 50-day moving average is $20.95 and its 200-day moving average is $18.96. The company has a market cap of $156.67 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.63 and a beta of 0.60. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.34.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on T shares. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Barclays boosted their target price on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price target on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.