AT&T Inc. (NYSE:T) Shares Sold by Wealth Alliance LLC

Wealth Alliance LLC reduced its position in AT&T Inc. (NYSE:T - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 72,045 shares of the technology company's stock after selling 9,885 shares during the quarter. Wealth Alliance LLC's holdings in AT&T were worth $2,037,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Cannon Financial Strategists Inc. purchased a new stake in shares of AT&T during the 1st quarter worth $244,000. Sargent Investment Group LLC boosted its position in shares of AT&T by 33.1% in the 1st quarter. Sargent Investment Group LLC now owns 31,218 shares of the technology company's stock worth $883,000 after buying an additional 7,772 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of AT&T by 11.3% in the 1st quarter. Lindbrook Capital LLC now owns 43,287 shares of the technology company's stock worth $1,224,000 after buying an additional 4,405 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of AT&T by 52.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 811,424 shares of the technology company's stock worth $22,947,000 after buying an additional 280,623 shares in the last quarter. Finally, New England Capital Financial Advisors LLC boosted its position in shares of AT&T by 11.6% in the 1st quarter. New England Capital Financial Advisors LLC now owns 14,620 shares of the technology company's stock worth $413,000 after buying an additional 1,516 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on T. UBS Group restated a "buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Oppenheimer upped their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Morgan Stanley upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

AT&T Price Performance

Shares of NYSE T opened at $26.92 on Friday. The firm's 50-day simple moving average is $27.74 and its 200 day simple moving average is $26.47. The stock has a market cap of $193.71 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.36 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.12%. AT&T's payout ratio is presently 68.10%.

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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