Essex Savings Bank Has $1.27 Million Stock Position in AT&T Inc. (NYSE:T)

Essex Savings Bank grew its stake in AT&T Inc. (NYSE:T) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,910 shares of the technology company’s stock after purchasing an additional 801 shares during the quarter. Essex Savings Bank’s holdings in AT&T were worth $1,266,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Lion Street Advisors LLC purchased a new position in shares of AT&T in the 1st quarter worth approximately $27,000. Horan Securities Inc. bought a new stake in AT&T during the first quarter worth $28,000. CBIZ Investment Advisory Services LLC boosted its position in AT&T by 186.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock worth $28,000 after purchasing an additional 623 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in AT&T in the first quarter worth $34,000. Finally, Efficient Wealth Management LLC bought a new position in AT&T in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

In related news, Director Stephen J. Luczo acquired 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were bought at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on the stock. SunTrust Banks cut their price target on shares of AT&T from $36.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, April 3rd. Deutsche Bank reduced their target price on shares of AT&T from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Royal Bank of Canada decreased their price target on shares of AT&T from $38.00 to $32.00 in a research note on Friday, July 24th. Cfra dropped their price objective on AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Finally, Morgan Stanley reduced their price objective on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.29.

AT&T stock traded up $0.01 during midday trading on Friday, reaching $29.58. 38,694,208 shares of the stock were exchanged, compared to its average volume of 32,539,284. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market cap of $212.40 billion, a PE ratio of 18.15, a PEG ratio of 1.67 and a beta of 0.72. The company’s fifty day moving average is $30.01 and its 200-day moving average is $32.47.

AT&T (NYSE:T) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm had revenue of $40.95 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the business earned $0.89 EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T Inc. will post 3.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $2.08 dividend on an annualized basis and a yield of 7.03%. AT&T’s dividend payout ratio is currently 58.26%.

AT&T Company Profile

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.

Read More: Reverse Stock Split

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

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