Envestnet Portfolio Solutions Inc. Has $9.88 Million Position in AT&T Inc. $T

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in AT&T by 19.2% during the second quarter, owning 341,455 shares valued at approximately $9.88 million.
• AT&T recently announced a quarterly dividend of $0.2775 per share, with a dividend yield of 4.3%, to be paid on November 3rd to stockholders of record on October 10th.
• Wall Street analysts have mixed opinions on AT&T, with a consensus average rating of "Moderate Buy" and a target price around $30.75 per share.

Envestnet Portfolio Solutions Inc. reduced its holdings in AT&T Inc. (NYSE:T - Free Report) by 19.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 341,455 shares of the technology company's stock after selling 81,345 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in AT&T were worth $9,882,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in shares of AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T in the second quarter valued at about $26,000. Kennebec Savings Bank lifted its stake in shares of AT&T by 412.1% in the second 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 lifted its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T in the first quarter valued at about $29,000. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on T shares. Barclays reiterated an "equal weight" rating and issued a $30.00 target price on shares of AT&T in a research note on Wednesday, October 1st. Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Sanford C. Bernstein raised their price target 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, JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Stock Down 1.2%

Shares of T opened at $25.57 on Tuesday. The stock has a market cap of $182.80 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.10 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 12 month low of $21.05 and a 12 month high of $29.79. The company has a 50-day moving average price of $28.41 and a two-hundred day moving average price of $27.86.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. Equities analysts predict that AT&T Inc. will post 2.14 EPS 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. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. 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.

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