Davidson Trust Co. Trims Stock Position in AT&T Inc. $T

Davidson Trust Co. cut its holdings in shares of AT&T Inc. (NYSE:T) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,310 shares of the technology company’s stock after selling 1,531 shares during the quarter. Davidson Trust Co.’s holdings in AT&T were worth $993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in T. CHURCHILL MANAGEMENT Corp increased its stake in AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. acquired a new stake in AT&T during the second quarter worth about $489,000. ASR Vermogensbeheer N.V. increased its stake in AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after acquiring an additional 9,970 shares during the last quarter. Simplicity Wealth LLC increased its stake in AT&T by 180.5% during the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock worth $3,302,000 after acquiring an additional 73,417 shares during the last quarter. Finally, Xponance Inc. increased its stake in AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after acquiring an additional 102,419 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

T stock opened at $26.12 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm has a market cap of $186.74 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.42. The stock has a 50-day simple moving average of $28.37 and a 200-day simple moving average of $27.85.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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 paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on T shares. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price target for the company. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. Scotiabank set a $30.25 target price on AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Finally, UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

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.