Bar Harbor Wealth Management Purchases 684 Shares of AT&T Inc. (NYSE:T)

Bar Harbor Wealth Management lifted its position in shares of AT&T Inc. (NYSE:T) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,840 shares of the technology company’s stock after purchasing an additional 684 shares during the quarter. Bar Harbor Wealth Management’s holdings in AT&T were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC raised its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new position in AT&T during the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.6 %

Shares of NYSE T opened at $21.85 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $156.67 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The firm’s 50-day moving average is $20.95 and its 200-day moving average is $18.96. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Equities analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on T. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Oppenheimer raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $22.69.

AT&T Company Profile

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.