Tcfg Wealth Management LLC Sells 708 Shares of AT&T Inc. $T

Tcfg Wealth Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,577 shares of the technology company’s stock after selling 708 shares during the quarter. Tcfg Wealth Management LLC’s holdings in AT&T were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. David J Yvars Group boosted its position in shares of AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after purchasing an additional 372 shares in the last quarter. AllSquare Wealth Management LLC raised its holdings 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 in the last quarter. Barnes Wealth Management Group Inc raised its position in 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 valued at $425,000 after acquiring an additional 380 shares in the last quarter. Kathmere Capital Management LLC raised its stake in shares of AT&T by 0.8% in the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after acquiring an additional 381 shares in the last quarter. Finally, James J. Burns & Company LLC grew its holdings in AT&T by 1.0% in the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock valued at $1,168,000 after buying an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 4.4%

NYSE:T opened at $25.88 on Tuesday. The stock’s fifty day moving average price is $28.56 and its two-hundred day moving average price is $27.92. The company has a market cap 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. 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 Inc. has a 1 year low of $21.05 and a 1 year high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on T shares. UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Saturday, September 27th. Finally, Wells Fargo & Company increased their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.75.

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.