Gilman Hill Asset Management LLC Lowers Position in AT&T Inc. $T

Gilman Hill Asset Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 42.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,299 shares of the technology company’s stock after selling 6,919 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in AT&T were worth $269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capstone Wealth Management LLC purchased a new stake in shares of AT&T in the 1st quarter valued at about $201,000. Wedmont Private Capital raised its holdings in shares of AT&T by 7.9% during the 1st 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 in the last quarter. Xponance Inc. raised its holdings in shares of AT&T by 10.2% during the 1st 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 in the last quarter. NBT Bank N A NY raised its holdings in shares of AT&T by 7.5% during the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock valued at $3,660,000 after buying an additional 8,989 shares in the last quarter. Finally, Park Edge Advisors LLC purchased a new position in shares of AT&T during the 1st quarter valued at about $1,000,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.6%

NYSE T opened at $29.52 on Thursday. 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 Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The firm has a market capitalization of $211.08 billion, a PE ratio of 16.77, a P/E/G ratio of 3.63 and a beta of 0.44. The stock’s 50 day moving average is $28.38 and its 200 day moving average is $27.78.

AT&T (NYSE:T) last released 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 return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share 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 given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T’s payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Finally, Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $30.60.

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.