AT&T Inc. $T Shares Sold by Godsey & Gibb Inc.

Key Points

• Godsey & Gibb Inc. reduced its AT&T shares by 5.0%, holding 1,004,301 shares valued at approximately $29 million, constituting 2.7% of its portfolio.
• AT&T recently announced a quarterly dividend of $0.2775, providing a 4.3% dividend yield, with the payout to occur on November 3rd for investors of record as of October 10th.
• Analysts generally have a positive outlook on AT&T, with a consensus rating of "Moderate Buy" and a price target averaging around $30.75.

Godsey & Gibb Inc. trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,004,301 shares of the technology company's stock after selling 53,393 shares during the quarter. AT&T accounts for approximately 2.7% of Godsey & Gibb Inc.'s portfolio, making the stock its 7th largest holding. Godsey & Gibb Inc.'s holdings in AT&T were worth $29,064,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. David J Yvars Group lifted its stake in shares of 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 buying an additional 372 shares in the last quarter. AllSquare Wealth Management LLC increased its position 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 buying an additional 378 shares in the last quarter. Barnes Wealth Management Group Inc increased its holdings in AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after buying an additional 380 shares during the period. Kathmere Capital Management LLC lifted its holdings in AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company's stock valued at $1,470,000 after acquiring an additional 381 shares during the period. Finally, James J. Burns & Company LLC lifted its position in shares of AT&T by 1.0% during the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company's stock valued at $1,168,000 after buying an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. 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. Raymond James Financial reaffirmed a "strong-buy" rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.75.

AT&T Trading Down 4.4%

NYSE T opened at $25.88 on Tuesday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The stock has a market capitalization of $185.05 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 3.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock's 50 day moving average price is $28.56 and its two-hundred day moving average price is $27.92.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the business posted $0.51 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio (DPR) is currently 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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