Bell Bank Acquires 63,420 Shares of AT&T Inc. (NYSE:T)

by · The Markets Daily

Bell Bank raised its stake in AT&T Inc. (NYSE:T – Free Report) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 378,422 shares of the technology company’s stock after purchasing an additional 63,420 shares during the quarter. AT&T accounts for about 0.6% of Bell Bank’s portfolio, making the stock its 27th biggest position. Bell Bank’s holdings in AT&T were worth $8,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northeast Investment Management raised its stake in shares of AT&T by 0.9% during the 4th quarter. Northeast Investment Management now owns 51,198 shares of the technology company’s stock valued at $1,166,000 after purchasing an additional 451 shares during the period. Chesapeake Wealth Management lifted its holdings in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares during the last quarter. Luts & Greenleigh Group Inc. grew its stake in shares of AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after buying an additional 460 shares during the last quarter. Socha Financial Group LLC boosted its stake in shares of AT&T by 2.5% during the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares during the period. Finally, Garden State Investment Advisory Services LLC grew its holdings in AT&T by 1.4% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after acquiring an additional 468 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T opened at $26.64 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $26.72. The firm has a fifty day moving average price of $23.50 and a 200 day moving average price of $22.28. The stock has a market cap of $191.19 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.59.

AT&T (NYSE:T – Get Free Report) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.17%. AT&T’s dividend payout ratio is currently 74.50%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Oppenheimer started coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective on the stock. UBS Group boosted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.33.

View Our Latest Report on AT&T

About AT&T

(Free Report)

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.

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