AT&T Inc. $T Shares Sold by Wealthstream Advisors Inc.

Wealthstream Advisors Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 43.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,109 shares of the technology company’s stock after selling 5,441 shares during the period. Wealthstream Advisors Inc.’s holdings in AT&T were worth $206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T during the second quarter valued at approximately $5,266,758,000. GQG Partners LLC raised its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after acquiring an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after acquiring an additional 1,307,009 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.5%

AT&T stock opened at $26.33 on Friday. The firm has a market cap of $188.24 billion, a PE ratio of 14.96, a P/E/G ratio of 2.13 and a beta of 0.42. 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 firm’s 50 day moving average price is $28.27 and its two-hundred day moving average price is $27.81. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on T shares. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company cut their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $30.65.

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.