AT&T Inc. $T Shares Sold by Courier Capital LLC

Courier Capital LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,204 shares of the technology company’s stock after selling 2,536 shares during the period. Courier Capital LLC’s holdings in AT&T were worth $1,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bayforest Capital Ltd acquired a new stake in shares of AT&T during the second quarter worth $92,000. Sagespring Wealth Partners LLC lifted its position in AT&T by 5.3% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 141,152 shares of the technology company’s stock worth $4,085,000 after acquiring an additional 7,167 shares during the period. Axxcess Wealth Management LLC lifted its position in AT&T by 6.6% during the 2nd quarter. Axxcess Wealth Management LLC now owns 160,138 shares of the technology company’s stock worth $4,634,000 after acquiring an additional 9,858 shares during the period. Alpine Woods Capital Investors LLC purchased a new stake in AT&T during the 2nd quarter valued at about $223,000. Finally, Cornerstone Wealth Group LLC increased its holdings in shares of AT&T by 2.0% in the second quarter. Cornerstone Wealth Group LLC now owns 246,177 shares of the technology company’s stock valued at $7,124,000 after purchasing an additional 4,866 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of a number of research reports. Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday, September 18th. Sanford C. Bernstein raised their target price 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, The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.75.

AT&T Price Performance

NYSE:T opened at $26.12 on Wednesday. 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 has a 50 day moving average price of $28.37 and a 200-day moving average price of $27.85. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The firm has a market cap of $186.74 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.42.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion for 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 firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is currently 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.