Strategic Blueprint LLC Cuts Stock Position in AT&T Inc. $T

Strategic Blueprint LLC lessened its holdings in AT&T Inc. (NYSE:T) by 14.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,749 shares of the technology company’s stock after selling 5,031 shares during the period. Strategic Blueprint LLC’s holdings in AT&T were worth $890,000 as of its most recent SEC filing.

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

AT&T Trading Up 2.2%

AT&T stock opened at $25.17 on Friday. The firm’s 50-day moving average is $27.97 and its 200-day moving average is $27.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.01. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a market cap of $179.95 billion, a P/E ratio of 8.17, a PEG ratio of 1.99 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period last year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a report on Friday. Wells Fargo & Company lowered their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Royal Bank Of Canada lowered their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Finally, Scotiabank set a $30.25 price objective on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.67.

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.