Keudell Morrison Wealth Management Sells 9,696 Shares of AT&T Inc. $T

Key Points

• Keudell Morrison Wealth Management reduced its stake in AT&T by 11.5%, selling 9,696 shares, and now holds 74,963 shares valued at approximately $2.17 million.
• AT&T's recent quarterly earnings showed a 3.4% revenue increase compared to last year, with earnings per share of $0.54, exceeding estimates.
• The company announced a quarterly dividend of $0.2775, representing a yield of 4.1%, with the ex-dividend date set for October 10th.

Keudell Morrison Wealth Management lowered its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 11.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,963 shares of the technology company's stock after selling 9,696 shares during the period. Keudell Morrison Wealth Management's holdings in AT&T were worth $2,169,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock valued at $18,411,543,000 after buying an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in AT&T in the 2nd quarter valued at $5,266,758,000. GQG Partners LLC grew its holdings in AT&T by 17.7% in the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AT&T by 3.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock valued at $1,561,514,000 after buying an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock valued at $1,508,411,000 after buying an additional 1,307,009 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

NYSE:T opened at $27.06 on Friday. The stock's 50-day simple moving average is $28.60 and its 200 day simple moving average is $27.92. The firm has a market capitalization of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 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 twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.1%. AT&T's dividend payout ratio (DPR) is 63.07%.

Analyst Upgrades and Downgrades

T has been the topic of several analyst reports. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Sanford C. Bernstein increased their target price on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Morgan Stanley increased their target price on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average target price of $30.74.

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.

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