Canal Insurance CO Boosts Stake in AT&T Inc. $T

Canal Insurance CO increased its stake in AT&T Inc. (NYSE:T) by 29.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 220,000 shares of the technology company’s stock after acquiring an additional 50,100 shares during the period. AT&T comprises approximately 1.3% of Canal Insurance CO’s portfolio, making the stock its 27th largest position. Canal Insurance CO’s holdings in AT&T were worth $6,213,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in T. Front Row Advisors LLC purchased a new stake in AT&T in the 2nd quarter worth approximately $25,000. Mountain Hill Investment Partners Corp. raised its holdings in shares of AT&T by 363.7% during the third quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock valued at $25,000 after acquiring an additional 702 shares in the last quarter. O Brien Wealth Partners LLC purchased a new stake in AT&T in the second quarter worth $26,000. Kennebec Savings Bank lifted its stake in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Finally, Solstein Capital LLC boosted its holdings in AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $23.29 on Wednesday. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The firm has a market cap of $165.09 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 1.29 and a beta of 0.39. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a 50-day simple moving average of $24.87 and a two-hundred day simple moving average of $26.70.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm 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 revenue was up 1.7% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio is currently 36.04%.

Analysts Set New Price Targets

Several brokerages have commented on T. Arete lowered shares of AT&T from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of AT&T in a research report on Monday, December 29th. Williams Trading set a $33.00 price target on shares of AT&T in a research note on Thursday, October 23rd. Wolfe Research downgraded AT&T from an “outperform” rating to a “peer perform” rating in a report on Monday, December 15th. Finally, Arete Research set a $20.00 target price on AT&T in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.35.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.