Community Bank N.A. Sells 12,575 Shares of AT&T Inc. (NYSE:T)

Community Bank N.A. lowered its stake in AT&T Inc. (NYSE:T) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,307 shares of the technology company’s stock after selling 12,575 shares during the quarter. Community Bank N.A.’s holdings in AT&T were worth $2,755,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Carmel Capital Partners LLC increased its stake in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares in the last quarter. Lipe & Dalton bought a new stake in AT&T during the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. bought a new stake in AT&T during the 3rd quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. increased its stake in AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on T shares. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Citigroup lifted their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

AT&T Stock Performance

NYSE T traded up $0.31 during trading on Wednesday, hitting $16.81. 74,184,828 shares of the company’s stock traded hands, compared to its average volume of 39,342,547. The stock has a market capitalization of $120.24 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 2.46 and a beta of 0.57. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The business has a 50 day moving average of $16.98 and a 200-day moving average of $16.54.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.