Tcfg Wealth Management LLC Sells 708 Shares of AT&T Inc. $T

Tcfg Wealth Management LLC trimmed its position in AT&T Inc. (NYSE:T) by 4.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,577 shares of the technology company’s stock after selling 708 shares during the quarter. Tcfg Wealth Management LLC’s holdings in AT&T were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T during the 2nd quarter worth $26,000. Hager Investment Management Services LLC lifted its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the period. Kennebec Savings Bank lifted its position in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares during the period. Finally, Core Alternative Capital grew its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays reaffirmed an “equal weight” rating and set a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. UBS Group set a $33.00 price objective on shares of AT&T in a research report on Thursday, September 18th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.75.

AT&T Stock Down 4.4%

Shares of NYSE:T opened at $25.88 on Tuesday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm’s 50 day moving average price is $28.56 and its 200 day moving average price is $27.92. 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 has a market cap of $185.05 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last issued its 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. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

AT&T Company 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.