Midland Wealth Advisors LLC Sells 7,687 Shares of AT&T Inc. $T

Midland Wealth Advisors LLC cut its position in shares of AT&T Inc. (NYSE:T) by 23.3% in the second quarter, Holdings Channel reports. The institutional investor owned 25,249 shares of the technology company’s stock after selling 7,687 shares during the period. Midland Wealth Advisors LLC’s holdings in AT&T were worth $731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after acquiring an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in AT&T during the second quarter worth about $5,266,758,000. GQG Partners LLC raised its position in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of AT&T by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after acquiring an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after buying an additional 1,307,009 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.3%

NYSE:T opened at $24.81 on Monday. The firm has a 50-day moving average price of $27.14 and a two-hundred day moving average price of $27.63. The firm has a market cap of $175.85 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The business’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 fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on T shares. Royal Bank Of Canada lowered their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Finally, TD Cowen lifted their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.67.

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.