Resonant Capital Advisors LLC Trims Stock Position in AT&T Inc. $T

Resonant Capital Advisors LLC decreased its position in AT&T Inc. (NYSE:T) by 2.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,449 shares of the technology company’s stock after selling 794 shares during the period. Resonant Capital Advisors LLC’s holdings in AT&T were worth $765,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Denali Advisors LLC increased its stake in shares of AT&T by 5.9% during the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after buying an additional 22,394 shares during the period. CHURCHILL MANAGEMENT Corp increased its position in AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new position in AT&T during the 2nd quarter valued at about $489,000. Sentry Investment Management LLC raised its holdings in shares of AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after purchasing an additional 13,370 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. lifted its position in shares of AT&T by 1.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after purchasing an additional 9,970 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a report on Thursday. Royal Bank Of Canada decreased their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research report on Friday. Finally, Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Stock Performance

Shares of T stock opened at $25.17 on Monday. The stock has a market cap of $179.95 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 2.03 and a beta of 0.42. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The business has a 50-day simple moving average of $27.97 and a 200-day simple moving average of $27.76. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

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.