AT&T Inc. $T Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lowered its position in AT&T Inc. (NYSE:T) by 6.6% during the second quarter, HoldingsChannel.com reports. The fund owned 981,173 shares of the technology company’s stock after selling 69,573 shares during the quarter. HB Wealth Management LLC’s holdings in AT&T were worth $28,395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its holdings in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after buying an additional 10,188 shares during the last quarter. JGP Wealth Management LLC acquired a new stake in AT&T during the 1st quarter valued at $209,000. Moller Wealth Partners acquired a new stake in AT&T during the 1st quarter valued at $246,000. Fiduciary Alliance LLC grew its holdings in AT&T by 172.8% during the 1st quarter. Fiduciary Alliance LLC now owns 195,495 shares of the technology company’s stock valued at $5,529,000 after buying an additional 123,829 shares during the last quarter. Finally, Worth Asset Management LLC grew its holdings in AT&T by 551.0% during the 1st quarter. Worth Asset Management LLC now owns 78,736 shares of the technology company’s stock valued at $2,227,000 after buying an additional 66,641 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $28.07 on Tuesday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The stock’s fifty day simple moving average is $28.62 and its 200-day simple moving average is $27.91. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $200.71 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

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.