Avantax Advisory Services Inc. Sells 9,304 Shares of AT&T Inc. (NYSE:T)

Key Points

• Avantax Advisory Services Inc. reduced its holdings in AT&T by 1.0% during the first quarter, owning 913,547 shares valued at approximately $25.8 million after selling 9,304 shares.
• AT&T's shares are currently trading at $28.02 after a slight increase of 0.3%, with a market cap of $201.58 billion and a price-to-earnings ratio of 15.92.
• The company declared a quarterly dividend of $0.2775 per share, yielding 3.96%, to be paid on August 1st to investors of record from July 10th.

Avantax Advisory Services Inc. lessened its stake in AT&T Inc. (NYSE:T - Free Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 913,547 shares of the technology company's stock after selling 9,304 shares during the quarter. Avantax Advisory Services Inc.'s holdings in AT&T were worth $25,835,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AllSquare Wealth Management LLC grew its position in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC boosted its holdings in shares of AT&T by 0.3% in the first 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 in the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in shares of AT&T by 1.6% in the fourth 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 in the last quarter. Kozak & Associates Inc. boosted its holdings in shares of AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after acquiring an additional 398 shares in the last quarter. Finally, Silver Oak Securities Incorporated lifted its stake in AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after purchasing an additional 398 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on T. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Barclays raised their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.66.

AT&T Trading Down 1.2%

Shares of NYSE:T traded down $0.34 during mid-day trading on Monday, hitting $27.67. The company had a trading volume of 12,674,119 shares, compared to its average volume of 37,999,137. The firm has a fifty day moving average price of $27.81 and a 200 day moving average price of $26.68. The company has a market capitalization of $199.07 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 3.49 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a one year low of $18.64 and a one year high of $29.19.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.01%. The ex-dividend date is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 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.