Cantor Fitzgerald Investment Advisors L.P. Has $10.65 Million Stock Holdings in AT&T Inc. $T

Key Points

• Cantor Fitzgerald Investment Advisors L.P. reduced its stake in AT&T Inc. by 35% during Q2, holding 367,896 shares valued at approximately $10.65 million after selling 198,349 shares.
• Equities analysts generally have a positive outlook on AT&T, with many issuing "buy" ratings and target prices ranging from $30.00 to $32.00 per share.
• AT&T recently announced a quarterly dividend of $0.2775, yielding about 4.0%, to be paid out on November 3rd to shareholders of record on October 10th.

Cantor Fitzgerald Investment Advisors L.P. reduced its stake in AT&T Inc. (NYSE:T - Free Report) by 35.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 367,896 shares of the technology company's stock after selling 198,349 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in AT&T were worth $10,647,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in T. Brighton Jones LLC boosted its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of AT&T by 24.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company's stock worth $397,000 after acquiring an additional 2,725 shares in the last quarter. Apella Capital LLC lifted its stake in shares of AT&T by 18.0% in the 1st quarter. Apella Capital LLC now owns 34,911 shares of the technology company's stock valued at $924,000 after purchasing an additional 5,321 shares during the period. Amplius Wealth Advisors LLC lifted its stake in shares of AT&T by 18.2% in the 1st quarter. Amplius Wealth Advisors LLC now owns 15,224 shares of the technology company's stock valued at $431,000 after purchasing an additional 2,342 shares during the period. Finally, Contravisory Investment Management Inc. boosted its position in shares of AT&T by 89.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 40,242 shares of the technology company's stock valued at $1,138,000 after purchasing an additional 19,011 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on T shares. The Goldman Sachs Group assumed coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price for the company. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein upped their price objective 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. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.74.

AT&T Stock Down 2.5%

Shares of NYSE:T opened at $27.55 on Thursday. The business's 50 day moving average is $28.63 and its 200 day moving average is $27.91. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The stock has a market cap of $196.96 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 3.62 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 (NYSE:T - Get Free Report) last issued 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. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations 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 was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is 63.07%.

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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