Samalin Investment Counsel LLC Sells 21,543 Shares of AT&T Inc. $T

Key Points

• Samalin Investment Counsel LLC significantly reduced its stake in AT&T Inc. by 71.7%, selling 21,543 shares and leaving it with 8,494 shares valued at $240,000.
• AT&T recently reported a quarterly earnings per share (EPS) of $0.54, exceeding analyst expectations of $0.53, and generated $30.85 billion in revenue, surpassing the forecast of $30.44 billion.
• Several analysts have increased their price targets for AT&T, with JPMorgan Chase raising its target from $31.00 to $33.00, reflecting a generally positive outlook on the stock's performance.

Samalin Investment Counsel LLC decreased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 71.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,494 shares of the technology company's stock after selling 21,543 shares during the period. Samalin Investment Counsel LLC's holdings in AT&T were worth $240,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capstone Wealth Management LLC acquired a new position in AT&T during the 1st quarter valued at about $201,000. DigitalBridge Group Inc. grew its stake in shares of AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after purchasing an additional 365,776 shares during the last quarter. Wedmont Private Capital grew its stake in shares of AT&T by 7.9% in the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock worth $3,302,000 after purchasing an additional 9,027 shares during the last quarter. Xponance Inc. grew its stake in shares of AT&T by 10.2% in the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock worth $31,389,000 after purchasing an additional 102,419 shares during the last quarter. Finally, NBT Bank N A NY grew its stake in shares of AT&T by 7.5% in the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock worth $3,660,000 after purchasing an additional 8,989 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 1.2%

NYSE T traded up $0.35 during trading on Friday, reaching $29.29. The company's stock had a trading volume of 26,535,515 shares, compared to its average volume of 29,711,526. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $209.43 billion, a PE ratio of 16.64, a PEG ratio of 3.58 and a beta of 0.42. The business has a 50-day moving average price of $28.11 and a 200-day moving average price of $27.51. AT&T Inc. has a 1-year low of $19.62 and a 1-year high of $29.65.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's payout ratio is 63.07%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on T. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price on the stock. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.21.

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.