Montecito Bank & Trust lifted its position in shares of AT&T Inc. (NYSE:T) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,328 shares of the technology company’s stock after acquiring an additional 2,667 shares during the quarter. Montecito Bank & Trust’s holdings in AT&T were worth $666,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of T. Ellenbecker Investment Group increased its stake in shares of AT&T by 5.7% during the second quarter. Ellenbecker Investment Group now owns 13,568 shares of the technology company’s stock worth $410,000 after acquiring an additional 734 shares during the period. First Financial Bank Trust Division increased its stake in shares of AT&T by 4.5% during the second quarter. First Financial Bank Trust Division now owns 264,594 shares of the technology company’s stock worth $7,999,000 after acquiring an additional 11,307 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in AT&T by 36.2% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 16,664 shares of the technology company’s stock worth $503,000 after buying an additional 4,433 shares in the last quarter. Private Asset Management Inc. boosted its holdings in AT&T by 1.8% during the second quarter. Private Asset Management Inc. now owns 338,805 shares of the technology company’s stock worth $10,242,000 after buying an additional 6,071 shares in the last quarter. Finally, Farmers Trust Co. boosted its holdings in AT&T by 0.6% during the second quarter. Farmers Trust Co. now owns 163,509 shares of the technology company’s stock worth $4,943,000 after buying an additional 939 shares in the last quarter. Institutional investors and hedge funds own 52.29% of the company’s stock.
NYSE T traded up $0.10 during trading hours on Friday, reaching $26.86. 1,525,196 shares of the company traded hands, compared to its average volume of 39,570,598. AT&T Inc. has a 12 month low of $26.08 and a 12 month high of $39.70. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $190.67 billion, a PE ratio of 16.42, a PEG ratio of 1.52 and a beta of 0.69. The company has a 50 day moving average of $28.22 and a two-hundred day moving average of $29.62.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a $0.52 dividend. The ex-dividend date is Thursday, October 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.74%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Barclays assumed coverage on shares of AT&T in a report on Friday, October 2nd. They set an “overweight” rating on the stock. Wolfe Research assumed coverage on shares of AT&T in a report on Monday, October 19th. They set a “peer perform” rating and a $31.00 price objective on the stock. Bank of America reissued a “buy” rating and set a $36.00 price objective on shares of AT&T in a report on Friday, July 24th. Finally, KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective on the stock. in a report on Monday, October 5th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $33.12.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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