Wintrust Investments LLC lowered its position in shares of AT&T Inc. (NYSE:T – Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,366 shares of the technology company’s stock after selling 3,285 shares during the period. Wintrust Investments LLC’s holdings in AT&T were worth $644,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Gratus Capital LLC purchased a new stake in AT&T during the second quarter valued at approximately $301,000. FORVIS Wealth Advisors LLC raised its stake in shares of AT&T by 31.5% during the 2nd quarter. FORVIS Wealth Advisors LLC now owns 36,868 shares of the technology company’s stock worth $588,000 after buying an additional 8,831 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of AT&T in the first quarter valued at about $868,000. Baker Boyer National Bank acquired a new stake in AT&T in the 2nd quarter worth about $832,000. Finally, Advisory Resource Group lifted its position in shares of AT&T by 2.5% in the second quarter. Advisory Resource Group now owns 43,523 shares of the technology company’s stock valued at $694,000 after acquiring an additional 1,043 shares in the last quarter. Institutional investors own 53.65% of the company’s stock.
Analyst Ratings Changes
T has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of AT&T from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. Wells Fargo & Company dropped their price target on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, July 20th. Citigroup lifted their target price on AT&T from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Scotiabank raised shares of AT&T from a “sector perform” rating to a “sector outperform” rating and set a $18.50 target price on the stock in a report on Friday, October 20th. Finally, Morgan Stanley dropped their price objective on AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $20.90.
AT&T Trading Up 0.8 %
Shares of AT&T stock opened at $15.88 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.69 and a debt-to-equity ratio of 1.08. The firm has a market cap of $113.54 billion, a price-to-earnings ratio of -10.31, a price-to-earnings-growth ratio of 1.92 and a beta of 0.60. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $20.50. The company’s 50-day simple moving average is $15.10 and its 200-day simple moving average is $15.26.
AT&T (NYSE:T – Get Free Report) last issued its earnings results on Thursday, October 19th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $30.35 billion during the quarter, compared to the consensus estimate of $30.25 billion. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.44 earnings per share for the current year.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.11 dividend on an annualized basis and a yield of 6.99%. AT&T’s dividend payout ratio (DPR) is presently -72.08%.
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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