Abbot Financial Management Inc. Cuts Stake in AT&T Inc. (NYSE:T)

Abbot Financial Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,312 shares of the technology company’s stock after selling 1,392 shares during the period. Abbot Financial Management Inc.’s holdings in AT&T were worth $503,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vantage Financial Partners LLC grew its holdings in shares of AT&T by 25.5% during the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after buying an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. boosted its position in AT&T by 4.1% in the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after buying an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC raised its position in AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after buying an additional 1,194 shares during the last quarter. Gryphon Financial Partners LLC raised its position in AT&T by 21.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after buying an additional 4,870 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of AT&T by 7.8% in the fourth quarter. Brown Advisory Inc. now owns 242,324 shares of the technology company’s stock worth $4,066,000 after acquiring an additional 17,601 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $22.28 on Tuesday. The stock has a market cap of $159.72 billion, a P/E ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $19.66 and a 200 day moving average price of $18.22. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Barclays boosted their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.