AT&T Inc. $T Shares Sold by Capital Asset Advisory Services LLC

Key Points

• Capital Asset Advisory Services LLC reduced its stake in AT&T Inc. by 29.6%, selling 15,223 shares and holding 36,187 shares worth approximately $1,045,000 at the end of the most recent quarter.
• Wall Street analysts have mixed ratings on AT&T shares, with one Strong Buy, seventeen Buy, five Hold, and one Sell, resulting in an average rating of "Moderate Buy" and an average target price of $30.60.
• AT&T recently announced a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.8% with a payout ratio of 63.07%.

Capital Asset Advisory Services LLC cut its position in shares of AT&T Inc. (NYSE:T - Free Report) by 29.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,187 shares of the technology company's stock after selling 15,223 shares during the quarter. Capital Asset Advisory Services LLC's holdings in AT&T were worth $1,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth approximately $25,000. Stone House Investment Management LLC acquired a new position in AT&T during the first quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in AT&T during the fourth quarter worth approximately $27,000. Hager Investment Management Services LLC increased its position in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Finally, Core Alternative Capital increased its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on T shares. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. UBS Group set a $32.00 price objective on shares of AT&T in a research note on Thursday, September 4th. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.60.

AT&T Stock Up 0.3%

AT&T stock opened at $29.59 on Monday. The stock has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.68 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company's 50-day moving average price is $28.31 and its two-hundred day moving average price is $27.74. 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 posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm posted $0.51 EPS. The business's revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid 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 63.07%.

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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