Penobscot Investment Management Company Inc. Lowers Stake in AT&T Inc. (NYSE:T)

Penobscot Investment Management Company Inc. decreased its stake in shares of AT&T Inc. (NYSE:T) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,897 shares of the technology company’s stock after selling 2,570 shares during the period. AT&T accounts for 1.9% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 10th largest position. Penobscot Investment Management Company Inc.’s holdings in AT&T were worth $5,646,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of T. Feltz Wealth PLAN Inc. purchased a new position in shares of AT&T during the first quarter valued at approximately $104,000. Taylor Wealth Management Partners boosted its position in shares of AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the last quarter. Empirical Finance LLC purchased a new position in shares of AT&T during the fourth quarter valued at approximately $116,000. Asset Planning Services Ltd. boosted its position in shares of AT&T by 26.6% in the first quarter. Asset Planning Services Ltd. now owns 4,169 shares of the technology company’s stock valued at $173,000 after buying an additional 877 shares during the last quarter. Finally, Israel Discount Bank of New York GFN purchased a new position in shares of AT&T during the fourth quarter valued at approximately $196,000. Institutional investors own 55.24% of the company’s stock.

Shares of AT&T Inc. (NYSE:T) traded up 0.18% during midday trading on Wednesday, hitting $38.23. The stock had a trading volume of 14,973,158 shares. AT&T Inc. has a 52 week low of $35.81 and a 52 week high of $43.03. The company’s 50 day moving average is $37.59 and its 200 day moving average is $39.56. The firm has a market cap of $234.73 billion, a P/E ratio of 17.97 and a beta of 0.47.

AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post $2.95 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.96 annualized dividend and a dividend yield of 5.13%. AT&T’s payout ratio is 92.45%.

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T has been the topic of several recent research reports. SunTrust Banks, Inc. initiated coverage on shares of AT&T in a research report on Tuesday, April 18th. They set a “hold” rating and a $40.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of AT&T in a research report on Wednesday, April 19th. Macquarie reaffirmed a “buy” rating and set a $45.00 price objective (down previously from $46.00) on shares of AT&T in a research report on Wednesday, April 26th. Deutsche Bank AG reissued a “hold” rating and issued a $41.00 price target (down previously from $42.00) on shares of AT&T in a research report on Saturday, April 29th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $41.00 price target on shares of AT&T in a research report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.50.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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