Romano Brothers AND Company Trims Stock Position in AT&T Inc. (NYSE:T)

Romano Brothers AND Company decreased its position in shares of AT&T Inc. (NYSE:T) by 6.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 182,160 shares of the technology company’s stock after selling 13,151 shares during the period. Romano Brothers AND Company’s holdings in AT&T were worth $2,906,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of T. Pacer Advisors Inc. increased its position in AT&T by 30.5% during the second quarter. Pacer Advisors Inc. now owns 2,498,953 shares of the technology company’s stock worth $39,858,000 after purchasing an additional 584,131 shares during the last quarter. Keel Point LLC increased its position in AT&T by 3.7% during the second quarter. Keel Point LLC now owns 25,877 shares of the technology company’s stock worth $413,000 after purchasing an additional 925 shares during the last quarter. Community Trust & Investment Co. increased its position in AT&T by 20.4% during the second quarter. Community Trust & Investment Co. now owns 190,365 shares of the technology company’s stock worth $3,036,000 after purchasing an additional 32,204 shares during the last quarter. Sage Capital Advisors llc increased its position in AT&T by 1.3% during the second quarter. Sage Capital Advisors llc now owns 196,367 shares of the technology company’s stock worth $3,132,000 after purchasing an additional 2,430 shares during the last quarter. Finally, Beacon Capital Management LLC increased its position in AT&T by 4.8% during the second quarter. Beacon Capital Management LLC now owns 20,131 shares of the technology company’s stock worth $321,000 after purchasing an additional 924 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T traded up $0.05 during trading on Tuesday, reaching $15.14. The stock had a trading volume of 14,823,662 shares, compared to its average volume of 38,892,285. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $20.50. The firm has a market capitalization of $108.24 billion, a price-to-earnings ratio of -12.37, a P/E/G ratio of 1.87 and a beta of 0.64. 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 stock has a fifty day simple moving average of $14.46 and a two-hundred day simple moving average of $16.33.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, July 7th. This represents a $1.11 dividend on an annualized basis and a yield of 7.33%. AT&T’s dividend payout ratio is currently -90.98%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Argus lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. HSBC lowered their price target on shares of AT&T from $21.00 to $19.00 in a report on Monday, June 5th. Moffett Nathanson raised shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price target for the company in a report on Tuesday, June 6th. Citigroup upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Tuesday, August 29th. Finally, JPMorgan Chase & Co. downgraded shares of AT&T from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $17.00 in a research note on Friday, July 14th. Nine 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.00.

AT&T 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.