Inlight Wealth Management LLC Trims Stock Holdings in AT&T Inc. $T

Inlight Wealth Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 378,555 shares of the technology company’s stock after selling 676 shares during the quarter. AT&T comprises about 2.8% of Inlight Wealth Management LLC’s holdings, making the stock its 8th largest position. Inlight Wealth Management LLC’s holdings in AT&T were worth $10,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CHURCHILL MANAGEMENT Corp lifted its position in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after acquiring an additional 4,793 shares during the period. Capstone Wealth Management LLC bought a new stake in AT&T in the first quarter valued at $201,000. ASR Vermogensbeheer N.V. raised its holdings in shares of AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after purchasing an additional 9,970 shares during the period. Wedmont Private Capital boosted its position in shares of AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after purchasing an additional 9,027 shares in the last quarter. Finally, Xponance Inc. grew its stake in shares of AT&T by 10.2% in the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after buying an additional 102,419 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $27.06 on Monday. The company has a market capitalization of $193.49 billion, a PE ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average price is $28.60 and its 200-day moving average price is $27.93. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the company posted $0.51 earnings per share. AT&T’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on T shares. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Barclays reaffirmed an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a research note on Wednesday. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Profile

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.