Maridea Wealth Management LLC Sells 7,457 Shares of AT&T Inc. $T

Maridea Wealth Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 37.1% in the second quarter, Holdings Channel reports. The fund owned 12,639 shares of the technology company’s stock after selling 7,457 shares during the quarter. Maridea Wealth Management LLC’s holdings in AT&T were worth $366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the second quarter worth approximately $26,000. Hager Investment Management Services LLC raised its position in AT&T by 182.1% during 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 period. IMA Advisory Services Inc. purchased a new stake in AT&T during the first quarter valued at approximately $29,000. Finally, Core Alternative Capital lifted its stake in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.0%

NYSE T opened at $28.31 on Friday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $202.42 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 3.63 and a beta of 0.44. The company’s 50-day simple moving average is $28.58 and its two-hundred day simple moving average is $27.86.

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. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on T shares. Scotiabank raised their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday, September 18th. Morgan Stanley lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased 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. Finally, Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.74.

About AT&T

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.