Tompkins Financial Corp Raises Stock Position in AT&T Inc. (NYSE:T)

Tompkins Financial Corp boosted its holdings in shares of AT&T Inc. (NYSE:TGet Rating) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,306 shares of the technology company’s stock after buying an additional 1,858 shares during the quarter. Tompkins Financial Corp’s holdings in AT&T were worth $1,725,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. SWS Partners purchased a new position in AT&T in the first quarter worth $25,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in AT&T in the first quarter worth $27,000. Cordant Inc. purchased a new position in AT&T in the first quarter worth $31,000. Capital Management Associates NY purchased a new position in AT&T in the first quarter worth $34,000. Finally, SBK Financial Inc. purchased a new position in AT&T in the fourth quarter worth $35,000. 52.88% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T stock traded down $0.01 on Thursday, reaching $16.24. 1,228,212 shares of the company were exchanged, compared to its average volume of 39,052,184. The company has a market cap of $115.73 billion, a price-to-earnings ratio of 5.99, a P/E/G ratio of 1.94 and a beta of 0.48. The business has a 50-day moving average price of $18.08 and a 200 day moving average price of $20.08. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $16.25 and a 1 year high of $21.53.

AT&T (NYSE:TGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The company had revenue of $29.64 billion during the quarter, compared to analysts’ expectations of $29.48 billion. During the same quarter in the prior year, the company earned $0.89 EPS. AT&T’s revenue was down 17.1% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.54 earnings per share for the current fiscal year.

AT&T Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were issued a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 annualized dividend and a yield of 6.83%. AT&T’s payout ratio is 40.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on T shares. Tigress Financial lowered their price objective on shares of AT&T from $31.00 to $28.00 in a research note on Thursday, June 16th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Barclays downgraded shares of AT&T from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research note on Friday, July 22nd. Finally, Wolfe Research lowered their price objective on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Hold” and an average price target of $23.41.

About AT&T

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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

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