Centennial Wealth Advisory LLC Sells 7,134 Shares of AT&T Inc. $T

Centennial Wealth Advisory LLC cut its position in AT&T Inc. (NYSE:T) by 17.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 34,106 shares of the technology company’s stock after selling 7,134 shares during the period. Centennial Wealth Advisory LLC’s holdings in AT&T were worth $988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in shares of AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC raised its stake in shares of AT&T by 182.1% during the 1st 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. Core Alternative Capital raised its stake in shares of AT&T by 125.4% during 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 period. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T during the 1st quarter valued at $29,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

T opened at $28.07 on Tuesday. The stock has a 50-day moving average price of $28.62 and a 200-day moving average price of $27.91. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. 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 capitalization of $200.71 billion, a P/E ratio of 15.95, a PEG ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings data 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. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the prior year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed 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. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on T shares. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.