Sippican Capital Advisors Purchases 4,463 Shares of AT&T Inc. (NYSE:T)

Sippican Capital Advisors boosted its position in AT&T Inc. (NYSE:T) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,134 shares of the technology company’s stock after purchasing an additional 4,463 shares during the quarter. AT&T makes up 1.6% of Sippican Capital Advisors’ portfolio, making the stock its 23rd biggest position. Sippican Capital Advisors’ holdings in AT&T were worth $1,287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Meridian Investment Counsel Inc. raised its holdings in AT&T by 2.7% in the third quarter. Meridian Investment Counsel Inc. now owns 104,035 shares of the technology company’s stock worth $2,966,000 after purchasing an additional 2,745 shares in the last quarter. JBJ Investment Partners LLC raised its holdings in AT&T by 13.8% in the third quarter. JBJ Investment Partners LLC now owns 57,167 shares of the technology company’s stock worth $1,630,000 after purchasing an additional 6,950 shares in the last quarter. Concorde Asset Management LLC raised its holdings in AT&T by 18.2% in the third quarter. Concorde Asset Management LLC now owns 13,195 shares of the technology company’s stock worth $377,000 after purchasing an additional 2,035 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in AT&T by 14.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,003 shares of the technology company’s stock worth $1,739,000 after purchasing an additional 7,750 shares in the last quarter. Finally, WESPAC Advisors SoCal LLC bought a new position in AT&T in the third quarter worth $5,969,000. Institutional investors and hedge funds own 52.29% of the company’s stock.

NYSE:T traded down $0.64 on Monday, hitting $27.18. The stock had a trading volume of 1,132,027 shares, compared to its average volume of 39,324,133. The stock has a market cap of $198.22 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The business’s 50-day simple moving average is $28.47 and its two-hundred day simple moving average is $29.69. AT&T Inc. has a 52-week low of $26.08 and a 52-week high of $39.70.

AT&T (NYSE:T) last posted its quarterly earnings data on Thursday, October 22nd. The technology company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.01). AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company had revenue of $42.43 billion during the quarter, compared to the consensus estimate of $41.66 billion. During the same period last year, the business earned $0.94 EPS. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 3.2 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.65%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio (DPR) is currently 58.26%.

A number of research firms have issued reports on T. KeyCorp downgraded AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a report on Monday, October 5th. Royal Bank of Canada increased their target price on AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Scotiabank cut AT&T from a “sector perform” rating to a “sector underperform” rating and cut their target price for the stock from $34.00 to $30.00 in a research note on Monday, August 31st. Oppenheimer reissued a “buy” rating and issued a $38.00 target price on shares of AT&T in a research note on Thursday, October 1st. Finally, Wolfe Research assumed coverage on AT&T in a research note on Monday, October 19th. They issued a “peer perform” rating and a $31.00 target price on the stock. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $33.38.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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