AT&T Inc. $T Shares Sold by Solitude Financial Services

Key Points

• Solitude Financial Services reduced its holdings in AT&T by 40.1% in Q2, now owning 30,210 shares valued at $874,000, making AT&T its 21st largest investment.
• Several hedge funds have modified their positions; for example, Kennebec Savings Bank increased its stake by 412.1% during the same quarter.
• AT&T recently declared a quarterly dividend of $0.2775 per share, which yields approximately 4.3% annually.

Solitude Financial Services reduced its holdings in AT&T Inc. (NYSE:T - Free Report) by 40.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,210 shares of the technology company's stock after selling 20,212 shares during the quarter. AT&T comprises 0.3% of Solitude Financial Services' investment portfolio, making the stock its 21st biggest holding. Solitude Financial Services' holdings in AT&T were worth $874,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the 2nd quarter valued at approximately $26,000. Kennebec Savings Bank lifted its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after buying an additional 783 shares during the period. Hager Investment Management Services LLC raised its holdings 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, IMA Advisory Services Inc. acquired a new position in AT&T during the first quarter worth $29,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on T. UBS Group set a $33.00 price objective on AT&T in a report on Thursday, September 18th. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. 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 for the company. JPMorgan Chase & Co. lifted their price objective on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of AT&T in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Price Performance

Shares of NYSE:T opened at $25.88 on Tuesday. The company has a market cap of $185.05 billion, a P/E ratio of 14.70, a P/E/G ratio of 3.46 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The business has a fifty day simple moving average of $28.56 and a 200-day simple moving average of $27.92.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating 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 return on equity of 13.36% and a net margin of 10.29%.The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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