Frazier Financial Advisors LLC Lowers Stock Holdings in AT&T Inc. $T

Frazier Financial Advisors LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 37.1% during the 2nd quarter, Holdings Channel reports. The firm owned 1,880 shares of the technology company’s stock after selling 1,110 shares during the period. Frazier Financial Advisors LLC’s holdings in AT&T were worth $54,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in T. Stone House Investment Management LLC purchased a new position in AT&T in the first quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T in the 2nd quarter valued at approximately $26,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares in the last quarter. Kennebec Savings Bank lifted its position 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 during the last quarter. Finally, Core Alternative Capital grew its stake in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 1.2%

Shares of NYSE:T opened at $25.57 on Tuesday. The firm has a fifty day moving average price of $28.41 and a 200 day moving average price of $27.86. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market cap of $182.80 billion, a P/E ratio of 14.53, a P/E/G ratio of 2.10 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79.

AT&T (NYSE:T) last announced its earnings results 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 company 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 was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. Sell-side analysts predict 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 will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid 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%.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Scotiabank set a $30.25 target price on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Barclays reaffirmed an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus 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.