SeaCrest Wealth Management LLC Has $2.11 Million Stock Position in AT&T Inc. $T

Key Points

• SeaCrest Wealth Management LLC reduced its stake in AT&T Inc. by 36.9%, owning 72,819 shares valued at approximately $2.1 million after selling 42,582 shares in Q2.
• AT&T reported earnings of $0.54 per share for the last quarter, exceeding expectations, with a revenue of $30.85 billion, reflecting a year-over-year increase of 3.4%.
• The company declared a quarterly dividend of $0.2775, translating to an annualized yield of 3.8%, with a payout ratio of 63.07%.

SeaCrest Wealth Management LLC trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 36.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 72,819 shares of the technology company's stock after selling 42,582 shares during the period. SeaCrest Wealth Management LLC's holdings in AT&T were worth $2,107,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of T. Kingstone Capital Partners Texas LLC acquired a new position in AT&T during the 2nd quarter worth approximately $5,266,758,000. Nuveen LLC bought a new stake in AT&T in the 1st quarter valued at about $1,072,128,000. GQG Partners LLC increased its holdings in shares of AT&T by 17.7% in the first 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. Ontario Teachers Pension Plan Board increased its holdings in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock valued at $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on T shares. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

AT&T Trading Down 0.5%

T traded down $0.16 during midday trading on Friday, hitting $29.04. The company's stock had a trading volume of 62,059,787 shares, compared to its average volume of 28,068,662. 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 firm has a market cap of $207.65 billion, a P/E ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. The firm has a 50-day moving average price of $28.45 and a two-hundred day moving average price of $27.82. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

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

AT&T Announces Dividend

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

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.