Kennebec Savings Bank Buys 783 Shares of AT&T Inc. $T

Kennebec Savings Bank grew its stake in shares of AT&T Inc. (NYSE:T) by 412.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 973 shares of the technology company’s stock after acquiring an additional 783 shares during the period. Kennebec Savings Bank’s holdings in AT&T were worth $28,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the 2nd quarter valued at approximately $26,000. Hager Investment Management Services LLC lifted its stake in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares in the last quarter. Core Alternative Capital lifted its stake in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in shares of AT&T during the 1st quarter valued at approximately $29,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

NYSE T opened at $27.55 on Thursday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $196.96 billion, a PE ratio of 15.65, a P/E/G ratio of 3.62 and a beta of 0.42. The company’s 50 day simple moving average is $28.63 and its two-hundred day simple moving average is $27.91.

AT&T (NYSE:T) last posted 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. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analyst Ratings Changes

A number of brokerages recently commented on T. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price target on the stock. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.74.

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.