AT&T Inc. (NYSE:T) Shares Sold by Boit C F David

Boit C F David cut its position in AT&T Inc. (NYSE:T) by 28.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,269 shares of the technology company’s stock after selling 3,757 shares during the period. Boit C F David’s holdings in AT&T were worth $148,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Twelve Points Wealth Management LLC boosted its holdings in AT&T by 2.8% during the first quarter. Twelve Points Wealth Management LLC now owns 18,866 shares of the technology company’s stock worth $363,000 after buying an additional 512 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its stake in AT&T by 5.1% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 11,071 shares of the technology company’s stock worth $213,000 after purchasing an additional 542 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in AT&T by 1.2% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after purchasing an additional 547 shares during the period. Retirement Planning Co of New England Inc. boosted its stake in AT&T by 3.2% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 17,714 shares of the technology company’s stock worth $341,000 after purchasing an additional 554 shares during the period. Finally, SMH Capital Advisors Inc. boosted its stake in AT&T by 1.8% in the 4th quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock worth $585,000 after purchasing an additional 565 shares during the period. 53.65% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $15.23 on Friday. The company has a market capitalization of $108.88 billion, a PE ratio of -12.48, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. The company’s fifty day moving average price is $14.46 and its 200 day moving average price is $16.35.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $29.92 billion for the quarter, compared to the consensus estimate of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. As a group, analysts expect that AT&T Inc. will post 2.43 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.11 annualized dividend and a yield of 7.29%. AT&T’s dividend payout ratio (DPR) is presently -90.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on T shares. Royal Bank of Canada decreased their price objective on shares of AT&T from $19.00 to $14.00 and set a “sector perform” rating for the company in a research note on Thursday, August 10th. Moffett Nathanson raised shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price for the company in a research note on Tuesday, June 6th. Wells Fargo & Company decreased their target price on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 20th. Morgan Stanley reissued an “equal weight” rating and set a $20.00 target price on shares of AT&T in a research note on Thursday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of AT&T from $23.00 to $22.00 in a research note on Friday, July 14th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

About AT&T

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.