AT&T Inc. (NYSE:T) Shares Purchased by Grove Bank & Trust

Grove Bank & Trust boosted its position in shares of AT&T Inc. (NYSE:T) by 10.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,434 shares of the technology company’s stock after acquiring an additional 1,153 shares during the period. Grove Bank & Trust’s holdings in AT&T were worth $283,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the period. Geode Capital Management LLC boosted its position in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Public Sector Pension Investment Board boosted its position in AT&T by 1,901.0% during the second quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock worth $60,518,000 after purchasing an additional 3,008,549 shares in the last quarter. Franklin Resources Inc. grew its holdings in AT&T by 41.4% in the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the period. Finally, National Pension Service increased its position in shares of AT&T by 15.8% in the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after buying an additional 2,152,016 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group boosted their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $25.83.

AT&T Stock Performance

NYSE T opened at $22.30 on Monday. The stock has a market cap of $159.97 billion, a PE ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The stock has a fifty day simple moving average of $22.79 and a 200-day simple moving average of $21.33. 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 (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.