Armstrong Advisory Group Inc. Sells 2,751 Shares of AT&T Inc. $T

Armstrong Advisory Group Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 6.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,431 shares of the technology company’s stock after selling 2,751 shares during the period. Armstrong Advisory Group Inc.’s holdings in AT&T were worth $1,083,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC acquired a new position in shares of AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the second quarter valued at approximately $26,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $27,000. Finally, Hager Investment Management Services LLC grew its position in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. UBS Group set a $33.00 price target on AT&T in a report on Thursday. Finally, Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Stock Performance

AT&T stock opened at $29.04 on Monday. The company has a market cap of $207.65 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company’s 50-day moving average price is $28.45 and its 200-day moving average price is $27.83. 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) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) 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 company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the company earned $0.51 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid 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 dividend payout ratio is presently 63.07%.

AT&T 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.