Evergreen Private Wealth LLC Reduces Stake in AT&T Inc. $T

Key Points

• Evergreen Private Wealth LLC reduced its stake in AT&T Inc. by 8.4% during the 2nd quarter, now holding 154,426 shares worth approximately $4.47 million, ranking it as the 26th largest holding in their portfolio.
• Recent institutional investors and hedge funds have made significant modifications to their AT&T holdings, with Kingstone Capital Partners purchasing a new position valued at around $5.27 billion in the last quarter.
• AT&T announced a quarterly dividend of $0.2775 per share, resulting in an annualized yield of 3.9%, with a payout ratio of 63.07%.

Evergreen Private Wealth LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,426 shares of the technology company's stock after selling 14,145 shares during the period. AT&T makes up approximately 1.9% of Evergreen Private Wealth LLC's investment portfolio, making the stock its 26th biggest holding. Evergreen Private Wealth LLC's holdings in AT&T were worth $4,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC purchased a new position in AT&T during the second quarter valued at approximately $5,266,758,000. Nuveen LLC purchased a new position in AT&T during the first quarter valued at approximately $1,072,128,000. GQG Partners LLC increased its holdings in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

T has been the topic of several analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Scotiabank upped their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, AT&T has an average rating of "Moderate Buy" and an average price target of $30.74.

AT&T Stock Performance

AT&T stock opened at $28.31 on Friday. The firm has a 50 day simple moving average of $28.58 and a 200-day simple moving average of $27.86. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $202.42 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 3.63 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results 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. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The business's revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T's dividend payout ratio is 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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