Pinion Investment Advisors LLC Sells 51,813 Shares of AT&T Inc. $T

Key Points

• Pinion Investment Advisors LLC decreased its holdings in AT&T Inc. by 49.3% in the second quarter, selling 51,813 shares and retaining a total of 53,273 shares valued at approximately $1.54 million.
• AT&T recently announced a quarterly dividend of $0.2775, payable on November 3rd, with a current yield of 4.2% and a payout ratio of 63.07%.
• Analysts have mixed ratings on AT&T, with recommendations varying from "strong-buy" to "hold" and an average target price of $30.75.

Pinion Investment Advisors LLC decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 49.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,273 shares of the technology company's stock after selling 51,813 shares during the quarter. Pinion Investment Advisors LLC's holdings in AT&T were worth $1,542,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T during the 2nd quarter worth about $26,000. Hager Investment Management Services LLC lifted its position in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after acquiring an additional 641 shares during the period. Kennebec Savings Bank lifted its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after buying an additional 783 shares during the period. Finally, Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after buying an additional 568 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

Shares of T stock opened at $26.12 on Friday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm has a market cap of $186.77 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 3.36 and a beta of 0.42. The stock's 50-day moving average is $28.49 and its two-hundred day moving average is $27.89. 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 (NYSE:T - Get Free Report) last announced its earnings results 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. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business 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 $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 dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

T has been the subject of several analyst reports. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Raymond James Financial reiterated a "strong-buy" rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Morgan Stanley boosted 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. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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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