Kingswood Wealth Advisors LLC Cuts Stake in AT&T Inc. $T

Key Points

• Kingswood Wealth Advisors LLC cut its stake in AT&T by 48.2%, now holding 43,410 shares worth approximately $1.26 million after selling 40,436 shares in the second quarter.
• AT&T reported a quarterly EPS of $0.54, exceeding analysts' expectations, and announced a quarterly dividend of $0.2775 per share, with an annual yield of 4.2%.
• Equity analysts maintain a moderate sentiment towards AT&T, with a consensus rating of "Moderate Buy" and an average target price of $30.75.

Kingswood Wealth Advisors LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 48.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,410 shares of the technology company's stock after selling 40,436 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in AT&T were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of AT&T by 8.2% during the first quarter. Miracle Mile Advisors LLC now owns 37,968 shares of the technology company's stock valued at $1,074,000 after purchasing an additional 2,890 shares during the period. First Citizens Bank & Trust Co. boosted its stake in shares of AT&T by 2.8% during the first quarter. First Citizens Bank & Trust Co. now owns 115,709 shares of the technology company's stock valued at $3,272,000 after purchasing an additional 3,138 shares during the period. City Holding Co. boosted its stake in shares of AT&T by 12.5% during the first quarter. City Holding Co. now owns 34,567 shares of the technology company's stock valued at $977,000 after purchasing an additional 3,851 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of AT&T by 39.8% during the first quarter. Farther Finance Advisors LLC now owns 152,843 shares of the technology company's stock valued at $4,353,000 after acquiring an additional 43,521 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 1.0%

NYSE T opened at $26.13 on Wednesday. The stock's 50 day moving average is $28.54 and its 200 day moving average is $27.91. The company has a current ratio of 0.81, a quick ratio of 0.76 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 stock has a market cap of $186.85 billion, a PE ratio of 14.85, a P/E/G ratio of 3.31 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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 earned $0.51 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 dividend on an annualized basis and a yield of 4.2%. AT&T's payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Barclays restated an "equal weight" rating and set a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Morgan Stanley increased their price objective on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.75.

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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