Evergreen Private Wealth LLC Reduces Holdings in AT&T Inc. $T

Evergreen Private Wealth LLC trimmed its stake in AT&T Inc. (NYSE:T) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,426 shares of the technology company’s stock after selling 14,145 shares during the period. AT&T makes up 1.9% of Evergreen Private Wealth LLC’s investment portfolio, making the stock its 26th largest holding. Evergreen Private Wealth LLC’s holdings in AT&T were worth $4,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Beaumont Financial Advisors LLC grew its position in shares of AT&T by 7.8% in the 2nd quarter. Beaumont Financial Advisors LLC now owns 15,146 shares of the technology company’s stock valued at $438,000 after buying an additional 1,102 shares during the last quarter. Legend Financial Advisors Inc. purchased a new position in shares of AT&T in the 2nd quarter valued at $48,000. Owen LaRue LLC grew its position in AT&T by 46.2% during the 2nd quarter. Owen LaRue LLC now owns 33,982 shares of the technology company’s stock worth $983,000 after purchasing an additional 10,733 shares during the last quarter. American National Bank & Trust grew its position in AT&T by 20.3% during the 2nd quarter. American National Bank & Trust now owns 37,928 shares of the technology company’s stock worth $1,098,000 after purchasing an additional 6,406 shares during the last quarter. Finally, Meyer Handelman Co. grew its position in AT&T by 1.0% during the 2nd quarter. Meyer Handelman Co. now owns 49,928 shares of the technology company’s stock worth $1,445,000 after purchasing an additional 495 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on T shares. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Stock Performance

Shares of T opened at $28.31 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market cap of $202.42 billion, a P/E ratio of 16.08, a PEG ratio of 3.63 and a beta of 0.44. The company has a 50-day moving average of $28.58 and a two-hundred day moving average of $27.86. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, October 10th. AT&T’s 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.