Glenview State Bank Trust DEPT. Boosts Position in AT&T Inc. (T)

Glenview State Bank Trust DEPT. raised its position in AT&T Inc. (NYSE:T) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,434 shares of the technology company’s stock after buying an additional 580 shares during the period. AT&T makes up approximately 1.8% of Glenview State Bank Trust DEPT.’s holdings, making the stock its 21st largest position. Glenview State Bank Trust DEPT.’s holdings in AT&T were worth $3,508,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Shell Asset Management Co. boosted its stake in shares of AT&T by 0.4% in the first quarter. Shell Asset Management Co. now owns 1,245,965 shares of the technology company’s stock worth $51,770,000 after buying an additional 5,354 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in AT&T by 8.9% in the first quarter. Janney Montgomery Scott LLC now owns 2,032,020 shares of the technology company’s stock worth $84,430,000 after buying an additional 166,398 shares during the period. Crossvault Capital Management LLC boosted its stake in AT&T by 2.9% in the first quarter. Crossvault Capital Management LLC now owns 85,618 shares of the technology company’s stock worth $3,557,000 after buying an additional 2,440 shares during the period. Clear Harbor Asset Management LLC boosted its stake in AT&T by 24.3% in the first quarter. Clear Harbor Asset Management LLC now owns 8,191 shares of the technology company’s stock worth $340,000 after buying an additional 1,600 shares during the period. Finally, Bartlett & Co. LLC boosted its stake in AT&T by 4.2% in the first quarter. Bartlett & Co. LLC now owns 47,938 shares of the technology company’s stock worth $1,992,000 after buying an additional 1,951 shares during the period. Hedge funds and other institutional investors own 55.28% of the company’s stock.

AT&T Inc. (T) opened at 38.19 on Friday. The stock’s 50 day moving average is $37.57 and its 200 day moving average is $39.67. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.46. The firm has a market capitalization of $234.49 billion, a price-to-earnings ratio of 17.95 and a beta of 0.47.

AT&T (NYSE:T) last announced its earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The firm had revenue of $39.84 billion for the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts predict that AT&T Inc. will post $2.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date was Thursday, July 6th. AT&T’s dividend payout ratio (DPR) is presently 92.45%.

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A number of research firms have issued reports on T. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price target for the company in a report on Thursday. Royal Bank Of Canada set a $42.00 price objective on shares of AT&T and gave the company a “hold” rating in a research report on Saturday, May 20th. Cowen and Company reaffirmed a “market perform” rating and set a $41.00 price objective (down previously from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. Drexel Hamilton reissued a “hold” rating on shares of AT&T in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. AT&T presently has an average rating of “Hold” and a consensus price target of $43.50.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.