Atlantic Union Bankshares Corp Has $2.48 Million Stock Position in AT&T Inc. $T

Atlantic Union Bankshares Corp grew its holdings in shares of AT&T Inc. (NYSE:T) by 75.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 85,633 shares of the technology company’s stock after acquiring an additional 36,933 shares during the period. Atlantic Union Bankshares Corp’s holdings in AT&T were worth $2,478,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Stone House Investment Management LLC acquired a new position in AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the second quarter worth about $26,000. Solstein Capital LLC lifted its stake in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares during the period. Kennebec Savings Bank boosted its holdings in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the last quarter. Finally, Hager Investment Management Services LLC increased its position in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Williams Trading set a $33.00 price target on shares of AT&T in a research report on Thursday, October 23rd. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, TD Cowen boosted their price objective on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Price Performance

Shares of NYSE:T opened at $24.81 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The stock’s 50 day moving average is $27.14 and its 200-day moving average is $27.62. The firm has a market capitalization of $175.85 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the previous year, the business posted $0.60 EPS. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

About AT&T

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.