Cape ANN Savings Bank Makes New Investment in AT&T Inc. $T

Key Points

• Cape ANN Savings Bank has acquired a new stake in AT&T Inc., purchasing 8,782 shares worth approximately $248,000 in the first quarter.
• AT&T reported a net margin of 10.29% and a return on equity of 13.36%, with revenue of $30.85 billion for the last quarter, exceeding analyst estimates.
• The company recently declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.8% and a payout ratio of 63.07%.

Cape ANN Savings Bank acquired a new position in AT&T Inc. (NYSE:T - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,782 shares of the technology company's stock, valued at approximately $248,000.

Several other hedge funds have also recently bought and sold shares of the business. AllSquare Wealth Management LLC lifted its stake in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after acquiring an additional 378 shares in the last quarter. Next Level Private LLC lifted its stake in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares in the last quarter. Barnes Wealth Management Group Inc lifted its stake in AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after acquiring an additional 380 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its stake in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after acquiring an additional 384 shares in the last quarter. Finally, Kozak & Associates Inc. raised its stake in shares of AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T stock traded up $0.35 during trading on Monday, reaching $29.29. The company had a trading volume of 26,535,515 shares, compared to its average volume of 29,098,794. The firm's 50 day simple moving average is $28.11 and its two-hundred day simple moving average is $27.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a one year low of $19.62 and a one year high of $29.65. The company has a market capitalization of $209.43 billion, a PE ratio of 16.64, a PEG ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the business earned $0.51 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 63.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Scotiabank raised their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. UBS Group reaffirmed a "buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

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.