AT&T Inc. (T) Stake Raised by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. grew its stake in shares of AT&T Inc. (NYSE:T) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,804 shares of the technology company’s stock after buying an additional 6,267 shares during the period. AT&T accounts for about 0.9% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 28th largest position. Canandaigua National Bank & Trust Co.’s holdings in AT&T were worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Ibex Wealth Advisors increased its position in AT&T by 0.8% in the third quarter. Ibex Wealth Advisors now owns 198,405 shares of the technology company’s stock worth $6,644,000 after purchasing an additional 1,493 shares during the last quarter. SSI Investment Management Inc. increased its position in AT&T by 10.0% in the second quarter. SSI Investment Management Inc. now owns 17,160 shares of the technology company’s stock worth $549,000 after purchasing an additional 1,553 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its position in AT&T by 1.7% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 95,276 shares of the technology company’s stock valued at $3,059,000 after acquiring an additional 1,553 shares during the last quarter. Tradewinds Capital Management LLC increased its position in AT&T by 27.0% during the second quarter. Tradewinds Capital Management LLC now owns 7,332 shares of the technology company’s stock valued at $235,000 after acquiring an additional 1,560 shares during the last quarter. Finally, Endurance Wealth Management Inc. increased its position in AT&T by 7.5% during the second quarter. Endurance Wealth Management Inc. now owns 22,644 shares of the technology company’s stock valued at $728,000 after acquiring an additional 1,572 shares during the last quarter. Hedge funds and other institutional investors own 64.77% of the company’s stock.

In other news, CEO John T. Stankey sold 3,748 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $29.84, for a total transaction of $111,840.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

A number of research firms have weighed in on T. Cowen boosted their price objective on shares of AT&T from $34.00 to $36.00 in a research report on Sunday, December 9th. Argus reiterated a “buy” rating and set a $48.00 price objective on shares of AT&T in a research report on Friday, October 26th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and set a $31.82 price objective on the stock in a research report on Sunday, December 9th. Barclays set a $32.00 price objective on shares of AT&T and gave the company a “hold” rating in a research report on Friday, January 18th. Finally, Citigroup upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $35.89.

Shares of T opened at $29.71 on Tuesday. The firm has a market cap of $181.41 billion, a PE ratio of 8.44, a P/E/G ratio of 1.25 and a beta of 0.54. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $37.81. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 0.86.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 30th. The technology company reported $0.86 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.86. The firm had revenue of $47.99 billion during the quarter, compared to analyst estimates of $48.50 billion. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. Analysts predict that AT&T Inc. will post 3.59 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Thursday, January 10th were paid a dividend of $0.51 per share. This is a positive change from AT&T’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date of this dividend was Wednesday, January 9th. AT&T’s payout ratio is currently 57.95%.

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AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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