Boltwood Capital Management Sells 1,860 Shares of AT&T Inc. $T

Boltwood Capital Management reduced its stake in shares of AT&T Inc. (NYSE:T) by 8.5% in the second quarter, HoldingsChannel.com reports. The fund owned 20,028 shares of the technology company’s stock after selling 1,860 shares during the quarter. Boltwood Capital Management’s holdings in AT&T were worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in T. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the 4th quarter worth $25,000. Stone House Investment Management LLC bought a new stake in AT&T in the first quarter worth $25,000. Putney Financial Group LLC bought a new stake in AT&T in the fourth quarter worth $27,000. Hager Investment Management Services LLC lifted its stake in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Finally, Core Alternative Capital lifted its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on T. UBS Group set a $32.00 price target on shares of AT&T in a research note on Thursday, September 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

AT&T Price Performance

T stock opened at $29.59 on Monday. The firm’s 50-day moving average price is $28.31 and its two-hundred day moving average price is $27.74. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The stock has a market capitalization of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.68 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) 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 firm 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. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.2775 dividend. 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 presently 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.