TBH Global Asset Management LLC Sells 21,545 Shares of AT&T Inc. $T

Key Points

• TBH Global Asset Management LLC reduced its stake in AT&T by 31.4%, selling 21,545 shares, resulting in a total of 46,999 shares valued at approximately $1.36 million.
• AT&T reported earnings per share of $0.54 for the last quarter, surpassing expectations and showing a year-over-year revenue increase of 3.4%.
• The company will pay a quarterly dividend of $0.2775 on November 3rd, with a current dividend yield of 3.9%.

TBH Global Asset Management LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 31.4% 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 46,999 shares of the technology company's stock after selling 21,545 shares during the quarter. TBH Global Asset Management LLC's holdings in AT&T were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Capstone Wealth Management LLC bought a new position in shares of AT&T during the 1st quarter valued at $201,000. Wedmont Private Capital boosted its position in AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after buying an additional 9,027 shares during the period. Xponance Inc. grew its stake in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after buying an additional 102,419 shares during the last quarter. NBT Bank N A NY increased its holdings in shares of AT&T by 7.5% in the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock worth $3,660,000 after buying an additional 8,989 shares during the period. Finally, Park Edge Advisors LLC bought a new stake in shares of AT&T in the 1st quarter valued at about $1,000,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.0%

Shares of NYSE T opened at $28.31 on Friday. The firm has a fifty day simple moving average of $28.61 and a two-hundred day simple moving average of $27.89. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. 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 capitalization of $202.43 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (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 company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. AT&T's dividend payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Scotiabank upped their price target on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Sanford C. Bernstein upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. One 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.74.

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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