AT&T Inc. $T Stock Position Lowered by First Bancorp Inc ME

First Bancorp Inc ME cut its stake in shares of AT&T Inc. (NYSE:T) by 7.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,997 shares of the technology company’s stock after selling 2,200 shares during the period. First Bancorp Inc ME’s holdings in AT&T were worth $810,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of T. Kingstone Capital Partners Texas LLC purchased a new position in AT&T in the second quarter valued at about $5,266,758,000. Nuveen LLC acquired a new position in AT&T in the 1st quarter valued at approximately $1,072,128,000. GQG Partners LLC raised its holdings in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T opened at $26.33 on Friday. The firm’s 50-day simple moving average is $28.27 and its two-hundred day simple moving average is $27.81. The stock has a market cap of $188.24 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Analysts anticipate 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 will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on T. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.65.

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.