AT&T Inc. $T Shares Sold by Concord Wealth Partners

Concord Wealth Partners lowered its stake in AT&T Inc. (NYSE:T) by 13.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,500 shares of the technology company’s stock after selling 1,047 shares during the quarter. Concord Wealth Partners’ holdings in AT&T were worth $188,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of T. CHURCHILL MANAGEMENT Corp raised its holdings in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. purchased a new stake in AT&T during the 2nd quarter worth about $489,000. ASR Vermogensbeheer N.V. boosted its stake in shares of AT&T by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after purchasing an additional 9,970 shares during the last quarter. Simplicity Wealth LLC boosted its stake in shares of AT&T by 180.5% during the 2nd quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock worth $3,302,000 after purchasing an additional 73,417 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after purchasing an additional 102,419 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.2%

Shares of NYSE T opened at $25.57 on Tuesday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a fifty day moving average of $28.41 and a 200-day moving average of $27.86. The stock has a market capitalization of $182.80 billion, a PE ratio of 14.53, a P/E/G ratio of 2.10 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.

AT&T (NYSE:T) last issued its 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 quarter last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on T shares. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Wells Fargo & Company lifted their price objective on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.