B.O.S.S. Retirement Advisors LLC cut its holdings in shares of AT&T Inc. (NYSE:T – Free Report) by 14.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 198,225 shares of the technology company’s stock after selling 32,900 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in AT&T were worth $3,162,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Steward Financial Group LLC increased its holdings in shares of AT&T by 159.7% during the 1st quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock valued at $30,000 after purchasing an additional 960 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in AT&T in the 1st quarter valued at $31,000. FWL Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth $31,000. Lakewood Asset Management LLC acquired a new stake in AT&T during the 4th quarter worth $32,000. Finally, Sageworth Trust Co acquired a new stake in AT&T during the 1st quarter worth $32,000. 53.65% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on T. HSBC lowered their target price on shares of AT&T from $21.00 to $19.00 in a research note on Monday, June 5th. JPMorgan Chase & Co. lowered AT&T from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $17.00 in a report on Friday, July 14th. Barclays reduced their price target on AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Argus lowered AT&T from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Wells Fargo & Company reduced their price target on AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, July 20th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Hold” and an average price target of $20.00.
AT&T Stock Up 1.1 %
T traded up $0.17 on Friday, reaching $15.23. The company’s stock had a trading volume of 80,594,245 shares, compared to its average volume of 32,218,100. The stock has a 50 day moving average of $14.47 and a two-hundred day moving average of $16.39. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $108.88 billion, a price-to-earnings ratio of -12.48, a P/E/G ratio of 1.85 and a beta of 0.64. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $20.50.
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $29.92 billion during the quarter, compared to the consensus estimate of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.43 EPS for the current fiscal year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 7.29%. The ex-dividend date of this dividend was Friday, July 7th. AT&T’s dividend payout ratio (DPR) is presently -90.98%.
AT&T Company Profile
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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