Robertson Stephens Wealth Management LLC Sells 2,689 Shares of AT&T Inc. $T

Robertson Stephens Wealth Management LLC reduced its holdings in AT&T Inc. (NYSE:T) by 14.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,319 shares of the technology company’s stock after selling 2,689 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in AT&T were worth $472,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Monument Capital Management increased its position in AT&T by 259.8% in the 2nd quarter. Monument Capital Management now owns 125,624 shares of the technology company’s stock worth $3,636,000 after buying an additional 90,708 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in AT&T by 40.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,677,006 shares of the technology company’s stock worth $106,413,000 after buying an additional 1,066,138 shares during the period. Baldwin Wealth Partners LLC MA increased its position in AT&T by 23.2% in the 2nd quarter. Baldwin Wealth Partners LLC MA now owns 11,277 shares of the technology company’s stock worth $326,000 after buying an additional 2,127 shares during the period. Callan Family Office LLC increased its position in AT&T by 257.6% in the 2nd quarter. Callan Family Office LLC now owns 157,631 shares of the technology company’s stock worth $4,562,000 after buying an additional 113,552 shares during the period. Finally, Blair William & Co. IL increased its position in AT&T by 3.0% in the 2nd quarter. Blair William & Co. IL now owns 524,603 shares of the technology company’s stock worth $15,182,000 after buying an additional 15,271 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $25.85 on Friday. The business’s fifty day moving average price is $28.45 and its two-hundred day moving average price is $27.88. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock has a market capitalization of $184.82 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating 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 firm 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 business posted $0.51 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Wednesday. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Barclays reissued an “equal weight” rating and set a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.75.

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.