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

Institute for Wealth Management LLC. decreased its holdings in AT&T Inc. (NYSE:T) by 1.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 41,329 shares of the technology company’s stock after selling 461 shares during the quarter. Institute for Wealth Management LLC.’s holdings in AT&T were worth $1,196,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of T. David J Yvars Group raised its position in shares of AT&T by 2.8% during the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after acquiring an additional 372 shares during the last quarter. AllSquare Wealth Management LLC raised its position in shares of AT&T by 7.1% during the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after acquiring an additional 378 shares during the last quarter. Next Level Private LLC raised its position in shares of AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after acquiring an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc raised its position in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after acquiring an additional 380 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its position in shares of AT&T by 0.8% during the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock worth $1,470,000 after acquiring an additional 381 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on T shares. Sanford C. Bernstein increased their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. UBS Group set a $33.00 price target on AT&T in a research note on Thursday, September 18th. The Goldman Sachs Group assumed coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Finally, JPMorgan Chase & Co. upped 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Stock Down 2.5%

Shares of AT&T stock opened at $27.55 on Thursday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The business has a 50-day moving average of $28.63 and a two-hundred day moving average of $27.91. The company has a market capitalization of $196.96 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 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.