Atria Wealth Solutions Inc. Lowers Position in AT&T Inc. $T

Key Points

• Atria Wealth Solutions Inc. significantly reduced its holdings in AT&T by 60.8% during the second quarter, resulting in ownership of 214,370 shares valued at approximately $6.17 million.
• Analysts have mixed opinions on AT&T's stock, with a consensus rating of "Moderate Buy" and a target price of $30.75, alongside a recent strong buy rating from Raymond James Financial.
• AT&T declared a quarterly dividend of $0.2775 per share, which translates to an annualized yield of 4.3%, indicating continued shareholder returns despite its stock performance challenges.

Atria Wealth Solutions Inc. lowered its holdings in AT&T Inc. (NYSE:T - Free Report) by 60.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,370 shares of the technology company's stock after selling 332,769 shares during the period. Atria Wealth Solutions Inc.'s holdings in AT&T were worth $6,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of AT&T by 1.3% in the 1st 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 in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the 2nd quarter valued at about $5,266,758,000. GQG Partners LLC raised its holdings in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AT&T by 3.3% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 1,307,009 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Scotiabank set a $30.25 price objective on AT&T and gave the company a "sector perform" rating in a report on Monday, October 6th. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. Raymond James Financial reissued a "strong-buy" rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective on the stock. Finally, Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Price Performance

T opened at $25.57 on Tuesday. The stock's 50 day simple moving average is $28.41 and its 200 day simple moving average is $27.86. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. 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 $182.80 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.10 and a beta of 0.42.

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 (EPS) 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 business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the company earned $0.51 EPS. AT&T's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio (DPR) is presently 63.07%.

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.

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