AT&T Inc. $T Shares Sold by tru Independence LLC

Key Points

• tru Independence LLC reduced its holdings in AT&T Inc. by 7.6% during the second quarter, bringing its total to 236,319 shares valued at approximately $6.8 million.
• AT&T reported $0.54 earnings per share for the latest quarter, surpassing estimates by a small margin, while revenue was up 3.4% year-over-year.
• Several brokerages recently upgraded AT&T's stock recommendations, with price targets generally ranging from $30.00 to $33.00, indicating a positive outlook from analysts.

tru Independence LLC lowered its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,319 shares of the technology company's stock after selling 19,483 shares during the period. AT&T accounts for 2.0% of tru Independence LLC's investment portfolio, making the stock its 12th largest holding. tru Independence LLC's holdings in AT&T were worth $6,839,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of T. Brighton Jones LLC boosted its stake in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after purchasing an additional 10,188 shares during the period. Yoffe Investment Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at about $213,000. Heck Capital Advisors LLC purchased a new position in shares of AT&T in the 4th quarter valued at about $39,000. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the 4th quarter valued at about $25,000. Finally, REAP Financial Group LLC increased its holdings in shares of AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after purchasing an additional 727 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

T opened at $28.78 on Wednesday. The company's 50 day simple moving average is $28.52 and its 200 day simple moving average is $27.85. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The stock has a market capitalization of $205.75 billion, a PE ratio of 16.35, a P/E/G ratio of 3.58 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period last year, the company earned $0.51 earnings per share. The company's quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. Sanford C. Bernstein increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price target for the company. Finally, Raymond James Financial restated a "strong-buy" rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

About AT&T

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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