Successful Portfolios LLC Sells 375 Shares of AT&T Inc. $T

Successful Portfolios LLC lessened its stake in AT&T Inc. (NYSE:T) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,670 shares of the technology company’s stock after selling 375 shares during the period. Successful Portfolios LLC’s holdings in AT&T were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in T. David J Yvars Group raised its position in AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after purchasing an additional 372 shares in the last quarter. AllSquare Wealth Management LLC raised its position in AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after purchasing an additional 378 shares in the last quarter. Next Level Private LLC raised its position in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after purchasing an additional 379 shares in the last quarter. Barnes Wealth Management Group Inc raised its position in AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after purchasing an additional 380 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its position in AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock worth $1,470,000 after purchasing an additional 381 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T opened at $27.06 on Friday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company’s 50 day simple moving average is $28.60 and its 200-day simple moving average is $27.91. The stock has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. AT&T’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research report on Saturday, September 27th. Barclays reissued an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research report on Wednesday. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

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.