Cavalier Investments LLC Sells 2,461 Shares of AT&T Inc. $T

Cavalier Investments LLC decreased its position in AT&T Inc. (NYSE:T) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,577 shares of the technology company’s stock after selling 2,461 shares during the quarter. AT&T makes up approximately 1.1% of Cavalier Investments LLC’s portfolio, making the stock its 22nd largest holding. Cavalier Investments LLC’s holdings in AT&T were worth $3,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC bought a new position in shares of AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the second quarter valued at approximately $26,000. Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% in the first 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 during the period. Kennebec Savings Bank raised its position in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Finally, Core Alternative Capital raised its position in shares of 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 period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on T. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. Finally, Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.65.

AT&T Stock Down 0.3%

T opened at $26.01 on Wednesday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. 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 firm’s fifty day moving average price is $28.18 and its two-hundred day moving average price is $27.78. The company has a market capitalization of $185.98 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.12 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The business’s revenue 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

About AT&T

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.