Raleigh Capital Management Inc. Sells 9,474 Shares of AT&T Inc. $T

Key Points

• Raleigh Capital Management Inc. reduced its holdings in AT&T Inc. by 19.2%, selling 9,474 shares and holding a total of 39,898 shares valued at approximately $1.15 million.
• Analysts have issued various price targets for AT&T, with Raymond James and UBS both setting a target of $33.00, while the average price target currently stands at $30.74.
• AT&T declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 4.0%, which is set to be paid on November 3rd to shareholders of record as of October 10th.

Raleigh Capital Management Inc. lowered its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 19.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 39,898 shares of the technology company's stock after selling 9,474 shares during the period. Raleigh Capital Management Inc.'s holdings in AT&T were worth $1,155,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC bought a new position in AT&T during the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in AT&T during the second quarter worth about $26,000. Hager Investment Management Services LLC boosted its holdings in shares of AT&T by 182.1% during the first 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. Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T during the first quarter worth approximately $29,000. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on T. Raymond James Financial restated a "strong-buy" rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Sanford C. Bernstein boosted their price objective on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Scotiabank boosted their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Finally, UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.74.

AT&T Stock Down 0.8%

Shares of T opened at $28.07 on Tuesday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a market cap of $200.71 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.62 and a beta of 0.44. 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 firm has a 50 day simple moving average of $28.62 and a two-hundred day simple moving average of $27.91.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS 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 the consensus estimate of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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 given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is currently 63.07%.

AT&T 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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