Worth Asset Management LLC Has $396,000 Holdings in AT&T Inc. $T

Key Points

• Worth Asset Management LLC reduced its holdings in AT&T Inc. by 82.6%, owning 13,700 shares valued at $396,000 after selling 65,036 shares in the second quarter.
• AT&T reported $0.54 earnings per share, surpassing analyst expectations, with a total revenue of $30.85 billion for the quarter, a 3.4% increase year-over-year.
• The company declared a quarterly dividend of $0.2775 per share, yielding approximately 3.8%, with an annual payout ratio of 63.07%.

Worth Asset Management LLC cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 82.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,700 shares of the technology company's stock after selling 65,036 shares during the quarter. Worth Asset Management LLC's holdings in AT&T were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of T. Vanguard Group Inc. increased its position in shares of AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock valued at $18,411,543,000 after buying an additional 8,185,006 shares in the last quarter. GQG Partners LLC raised its position in AT&T by 17.7% in the 1st 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock valued at $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after buying an additional 1,307,009 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in AT&T by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 49,038,107 shares of the technology company's stock valued at $1,386,798,000 after purchasing an additional 238,873 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of T stock opened at $29.21 on Friday. 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 fifty day simple moving average of $28.41 and a two-hundred day simple moving average of $27.79. The firm has a market capitalization of $208.83 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 3.65 and a beta of 0.44. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79.

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 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 for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter last year, the firm earned $0.51 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors 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 annualized dividend and a yield of 3.8%. AT&T's payout ratio is 63.07%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Scotiabank lifted their price target on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Morgan Stanley boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.74.

About AT&T

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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