Capital Investment Advisors LLC Sells 12,556 Shares of AT&T Inc. $T

Key Points

• Capital Investment Advisors LLC divested 12,556 shares of AT&T Inc., reducing its holdings by 1.3% to 950,026 shares, valued at approximately $27.49 million.
• Several hedge funds increased or established positions in AT&T, with Northwest Wealth Management boosting its stake by 24.7%, now owning 8,987 shares worth $260,000.
• AT&T announced a quarterly dividend of $0.2775 per share, yielding 4.0%, payable on November 3rd to shareholders of record as of October 10th.

Capital Investment Advisors LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 950,026 shares of the technology company's stock after selling 12,556 shares during the period. Capital Investment Advisors LLC's holdings in AT&T were worth $27,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of T. Presper Financial Architects LLC bought a new position in AT&T in the 2nd quarter worth approximately $738,000. Northwest Wealth Management LLC lifted its position in shares of AT&T by 24.7% during the second quarter. Northwest Wealth Management LLC now owns 8,987 shares of the technology company's stock worth $260,000 after acquiring an additional 1,780 shares in the last quarter. Summit Financial Strategies Inc. purchased a new position in shares of AT&T in the second quarter valued at $252,000. Spartan Planning & Wealth Management raised its stake in shares of AT&T by 34.2% during the 2nd quarter. Spartan Planning & Wealth Management now owns 14,500 shares of the technology company's stock valued at $420,000 after purchasing an additional 3,692 shares during the period. Finally, LexAurum Advisors LLC raised its stake in shares of AT&T by 7.3% during the 2nd quarter. LexAurum Advisors LLC now owns 29,045 shares of the technology company's stock valued at $841,000 after purchasing an additional 1,964 shares during the period. Institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. Wells Fargo & Company upped their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Sanford C. Bernstein increased their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Finally, Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.74.

AT&T Stock Performance

AT&T stock opened at $28.07 on Tuesday. The firm has a fifty day simple moving average of $28.62 and a two-hundred day simple moving average of $27.91. 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 twelve month low of $21.05 and a twelve month high of $29.79. The company has a market capitalization of $200.71 billion, a PE ratio of 15.95, a P/E/G ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.