626 Financial LLC Sells 500 Shares of AT&T Inc. $T

626 Financial LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 1.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,846 shares of the technology company’s stock after selling 500 shares during the period. 626 Financial LLC’s holdings in AT&T were worth $893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of T. Stone House Investment Management LLC bought a new stake in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the second quarter valued at approximately $26,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares in the last quarter. Kennebec Savings Bank raised its stake in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares in the last quarter. Finally, Core Alternative Capital raised its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Barclays reissued an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a research note on Wednesday, October 1st. Wells Fargo & Company boosted their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research note on Saturday, September 27th. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Price Performance

NYSE T opened at $25.88 on Tuesday. The firm’s fifty day simple moving average is $28.56 and its two-hundred day simple moving average is $27.92. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The firm has a market capitalization of $185.05 billion, a P/E ratio of 14.70, a P/E/G ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last released 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 net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company 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 yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

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.