1834 Investment Advisors Co. Sells 40,689 Shares of AT&T Inc. $T

Key Points

• 1834 Investment Advisors Co. reduced its holdings in AT&T by 7.7%, selling 40,689 shares, leaving it with 484,610 shares valued at approximately $14 million.
• AT&T announced a quarterly dividend of $0.2775 per share, which will be paid on November 3rd, yielding about 3.9% annually.
• Analysts have varied opinions on AT&T, with price targets ranging from $30 to $33, indicating a general trend towards an "overweight" rating among several investment firms.

1834 Investment Advisors Co. lowered its holdings in AT&T Inc. (NYSE:T - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 484,610 shares of the technology company's stock after selling 40,689 shares during the quarter. AT&T makes up 1.8% of 1834 Investment Advisors Co.'s portfolio, making the stock its 12th biggest position. 1834 Investment Advisors Co.'s holdings in AT&T were worth $14,025,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in AT&T during the first quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T during the 2nd quarter worth $26,000. Hager Investment Management Services LLC boosted its holdings 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 acquiring an additional 641 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in AT&T during the first quarter worth about $29,000. 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 buying an additional 568 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE:T opened at $28.31 on Friday. The business's 50-day moving average price is $28.61 and its two-hundred day moving average price is $27.87. 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 Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The stock has a market cap of $202.43 billion, a P/E ratio of 16.09, a PEG ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the previous year, the business earned $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on T. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. 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. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.74.

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.

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