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

Several other large investors have also recently modified their holdings of T. Minot DeBlois Advisors LLC bought a new position in AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the first quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $27,000. Finally, Hager Investment Management Services LLC grew its holdings in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.2%

Shares of NYSE:T traded up $0.35 during trading on Friday, hitting $29.29. The stock had a trading volume of 26,535,515 shares, compared to its average volume of 29,711,526. The company has a market capitalization of $209.43 billion, a PE ratio of 16.64, a PEG ratio of 3.58 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm's fifty day moving average is $28.11 and its 200 day moving average is $27.51. AT&T Inc. has a 12 month low of $19.62 and a 12 month high of $29.65.

AT&T (NYSE:T - Get Free Report) last issued its quarterly 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 company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the business earned $0.51 EPS. AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Raymond James Financial reiterated a "strong-buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective on the stock. Morgan Stanley increased their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, AT&T has an average rating of "Moderate Buy" and a consensus target price of $30.21.

AT&T 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.