AT&T Inc. (NYSE:T) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its holdings in AT&T Inc. (NYSE:T) by 1.1% during the 2nd quarter, Holdings Channel reports. The firm owned 684,778 shares of the technology company’s stock after selling 7,383 shares during the period. Private Advisor Group LLC’s holdings in AT&T were worth $13,086,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp raised its stake in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Norges Bank purchased a new position in AT&T during the fourth quarter worth approximately $1,118,288,000. Dimensional Fund Advisors LP raised its stake in AT&T by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock worth $794,978,000 after purchasing an additional 1,137,792 shares during the period. Finally, LSV Asset Management raised its stake in AT&T by 1.1% during the first quarter. LSV Asset Management now owns 29,777,030 shares of the technology company’s stock worth $524,076,000 after purchasing an additional 333,787 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

AT&T stock opened at $20.97 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $21.00. The company has a market cap of $150.36 billion, a PE ratio of 11.27, a PEG ratio of 3.47 and a beta of 0.59. The company’s 50-day moving average is $19.31 and its two-hundred day moving average is $18.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the firm earned $0.63 EPS. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.29%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on T. Royal Bank of Canada raised their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Barclays raised their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Evercore ISI lifted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.