Bell Bank reduced its position in shares of AT&T Inc. (NYSE:T - Free Report) by 19.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 308,905 shares of the technology company's stock after selling 75,160 shares during the quarter. Bell Bank's holdings in AT&T were worth $8,940,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. David J Yvars Group increased its position in AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock valued at $402,000 after purchasing an additional 372 shares during the period. AllSquare Wealth Management LLC lifted its stake in AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after acquiring an additional 378 shares during the period. Next Level Private LLC boosted its holdings in shares of AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after acquiring an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc boosted its holdings in shares of AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after acquiring an additional 380 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its holdings in shares of AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after acquiring an additional 384 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently issued reports on T. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Raymond James Financial reissued a "strong-buy" rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday. UBS Group set a $33.00 price objective on shares of AT&T in a report on Thursday. Finally, Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 target price on the stock. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.74.
Check Out Our Latest Analysis on AT&T
AT&T Stock Down 0.5%
AT&T stock traded down $0.16 during trading hours on Friday, reaching $29.04. The stock had a trading volume of 62,059,787 shares, compared to its average volume of 28,068,662. The company has a market cap of $207.65 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. 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 business's 50 day moving average price is $28.45 and its 200-day moving average price is $27.82. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.
AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's payout ratio is currently 63.07%.
About AT&T
(
Free Report)
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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