Evanson Asset Management LLC Sells 9,217 Shares of AT&T Inc. $T

Key Points

• Evanson Asset Management LLC reduced its stake in AT&T Inc. by 51.7% in the second quarter, now holding 8,618 shares valued at $249,000 after selling 9,217 shares.
• AT&T reported $0.54 earnings per share for the last quarter, exceeding expectations of $0.53, and its quarterly revenue was $30.85 billion, marking a 3.4% year-over-year increase.
• AT&T's stock is rated as a "Moderate Buy" by analysts, with a consensus target price of $30.74, though it faced a recent downgrade from HSBC to a "hold" rating.

Evanson Asset Management LLC lessened its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 51.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,618 shares of the technology company's stock after selling 9,217 shares during the period. Evanson Asset Management LLC's holdings in AT&T were worth $249,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capstone Wealth Management LLC purchased a new position in shares of AT&T in the first quarter valued at about $201,000. Wedmont Private Capital lifted its position in shares of AT&T by 7.9% in the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after acquiring an additional 9,027 shares in the last quarter. Xponance Inc. lifted its position in shares of AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after acquiring an additional 102,419 shares in the last quarter. NBT Bank N A NY lifted its position in shares of AT&T by 7.5% in the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock valued at $3,660,000 after acquiring an additional 8,989 shares in the last quarter. Finally, Park Edge Advisors LLC purchased a new position in shares of AT&T in the first quarter valued at about $1,000,000. Institutional investors own 57.10% of the company's stock.

AT&T Trading Down 1.6%

Shares of NYSE T opened at $28.34 on Thursday. The business's 50 day moving average is $28.55 and its two-hundred day moving average is $27.85. 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 1-year low of $21.05 and a 1-year high of $29.79. The stock has a market capitalization of $202.63 billion, a P/E ratio of 16.10, a PEG ratio of 3.69 and a beta of 0.44.

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, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on T. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. The Goldman Sachs Group assumed coverage on AT&T in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price on the stock. Scotiabank boosted their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One equities research 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 data from MarketBeat, AT&T has an average rating of "Moderate Buy" and a consensus target price of $30.74.

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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