ZWJ Investment Counsel Inc. Sells 112,743 Shares of AT&T Inc. $T

Key Points

• ZWJ Investment Counsel Inc. reduced its holdings in AT&T Inc. by 8.9% in the second quarter, selling 112,743 shares, retaining a total of 1,152,066 shares valued at $33.34 million.
• AT&T reported a quarterly earnings per share of $0.54, exceeding analyst expectations, with a revenue of $30.85 billion, representing a 3.4% year-over-year increase.
• The company announced a quarterly dividend of $0.2775 per share, reflecting a 4.1% dividend yield with an upcoming payment date on November 3rd.

ZWJ Investment Counsel Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,152,066 shares of the technology company's stock after selling 112,743 shares during the period. ZWJ Investment Counsel Inc.'s holdings in AT&T were worth $33,341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in T. Stone House Investment Management LLC bought a new stake in AT&T in the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the 2nd quarter valued at about $26,000. Kennebec Savings Bank raised its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after acquiring an additional 783 shares during the period. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in AT&T in the 1st quarter valued at about $29,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.2%

Shares of T opened at $27.06 on Friday. The business's 50-day moving average price is $28.60 and its 200-day moving average price is $27.91. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The stock has a market cap of $193.49 billion, a PE ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.1%. AT&T's payout ratio is presently 63.07%.

Analyst Ratings Changes

A number of brokerages recently issued reports on T. Barclays restated an "equal weight" rating and issued a $30.00 price objective on shares of AT&T in a research note on Wednesday. Scotiabank boosted their price objective on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective on the stock. Weiss Ratings restated a "buy (b)" rating on shares of AT&T in a research note on Saturday, September 27th. Finally, Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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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