HBW Advisory Services LLC Lowers Stake in AT&T Inc. $T

Key Points

• HBW Advisory Services LLC reduced its stake in AT&T Inc. by 11.9%, holding 157,860 shares valued at approximately $4.57 million after the sale.
• Analysts have raised their target prices for AT&T, with Morgan Stanley setting it at $32.00, while JPMorgan Chase & Co. increased it to $33.00, both maintaining an "overweight" rating.
• AT&T reported earnings of $0.54 per share, exceeding expectations, with revenue of $30.85 billion for the last quarter, reflecting a 3.4% increase year-over-year.

HBW Advisory Services LLC lessened its position in shares of AT&T Inc. (NYSE:T - Free Report) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,860 shares of the technology company's stock after selling 21,310 shares during the period. HBW Advisory Services LLC's holdings in AT&T were worth $4,568,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in T. Capital A Wealth Management LLC purchased a new stake in AT&T during the fourth quarter valued at about $25,000. Stone House Investment Management LLC purchased a new stake in AT&T during the first quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the fourth quarter valued at about $27,000. Hager Investment Management Services LLC boosted its position 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 worth $28,000 after buying an additional 641 shares during the period. Finally, Core Alternative Capital boosted its position in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Wells Fargo & Company upped their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.60.

AT&T Trading Up 0.3%

NYSE:T opened at $29.59 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The business's 50-day simple moving average is $28.31 and its 200 day simple moving average is $27.73. The stock has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS 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 business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company's revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T's dividend payout ratio 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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