AT&T Inc. $T Holdings Trimmed by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC lowered its holdings in AT&T Inc. (NYSE:T) by 23.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,249 shares of the technology company’s stock after selling 7,687 shares during the period. Midland Wealth Advisors LLC’s holdings in AT&T were worth $731,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T in the 2nd quarter worth approximately $26,000. Solstein Capital LLC raised its holdings in shares of AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares in the last quarter. Kennebec Savings Bank raised its stake in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares in the last quarter. Finally, Hager Investment Management Services LLC lifted 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 valued at $28,000 after acquiring an additional 641 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock opened at $24.81 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The firm has a market cap of $175.85 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40. The stock has a 50-day moving average price of $27.14 and a 200 day moving average price of $27.63. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada cut their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Finally, Barclays cut their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

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.