Camden National Bank Buys 1,400 Shares of AT&T Inc. (NYSE:T)

Camden National Bank raised its stake in AT&T Inc. (NYSE:T) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,043 shares of the technology company’s stock after acquiring an additional 1,400 shares during the quarter. Camden National Bank’s holdings in AT&T were worth $616,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich raised its holdings in AT&T by 11.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 636,213 shares of the technology company’s stock valued at $15,819,000 after acquiring an additional 64,096 shares during the period. RKL Wealth Management LLC raised its holdings in AT&T by 134.0% in the 4th quarter. RKL Wealth Management LLC now owns 33,568 shares of the technology company’s stock valued at $764,000 after acquiring an additional 19,220 shares during the period. Aviance Capital Partners LLC raised its holdings in AT&T by 2.2% in the 4th quarter. Aviance Capital Partners LLC now owns 24,923 shares of the technology company’s stock valued at $567,000 after acquiring an additional 534 shares during the period. Oak Hill Wealth Advisors LLC grew its position in shares of AT&T by 198.4% during the 4th quarter. Oak Hill Wealth Advisors LLC now owns 22,914 shares of the technology company’s stock worth $522,000 after purchasing an additional 46,210 shares in the last quarter. Finally, AMG National Trust Bank grew its position in shares of AT&T by 6.3% during the 4th quarter. AMG National Trust Bank now owns 155,847 shares of the technology company’s stock worth $3,535,000 after purchasing an additional 9,300 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. DZ Bank 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 Wednesday, January 29th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Sanford C. Bernstein increased their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Oppenheimer assumed coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, BNP Paribas upgraded shares of AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 target price on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $26.74.

AT&T Stock Performance

Shares of AT&T stock opened at $27.15 on Friday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $27.97. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market capitalization of $194.85 billion, a P/E ratio of 18.22, a P/E/G ratio of 3.00 and a beta of 0.56. The company’s 50 day moving average price is $24.30 and its two-hundred day moving average price is $22.80.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.09%. AT&T’s dividend payout ratio is currently 74.50%.

About AT&T

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.