Canandaigua National Bank & Trust Co. Has $1.35 Million Position in AT&T Inc. (NYSE:T)

Canandaigua National Bank & Trust Co. raised its holdings in AT&T Inc. (NYSE:T) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,359 shares of the technology company’s stock after purchasing an additional 2,197 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in AT&T were worth $1,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in T. Strategic Financial Concepts LLC grew its holdings in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the period. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the 2nd quarter valued at about $30,000. Finally, Reston Wealth Management LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on T. Oppenheimer initiated coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. UBS Group boosted their price objective on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their price objective on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Stock Performance

AT&T stock opened at $22.59 on Tuesday. The business has a 50 day moving average of $22.83 and a 200-day moving average of $21.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03. The company has a market capitalization of $162.09 billion, a P/E ratio of 18.37, a P/E/G ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is 90.24%.

AT&T 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.