V Wealth Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 15.0% during the second quarter, Holdings Channel reports. The fund owned 42,464 shares of the technology company’s stock after selling 7,481 shares during the period. V Wealth Management LLC’s holdings in AT&T were worth $1,613,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of T. Ronna Sue Cohen boosted its position in shares of AT&T by 0.6% in the second quarter. Ronna Sue Cohen now owns 47,193 shares of the technology company’s stock valued at $1,781,000 after buying an additional 288 shares during the last quarter. BerganKDV Wealth Management LLC boosted its position in shares of AT&T by 6.0% in the second quarter. BerganKDV Wealth Management LLC now owns 38,100 shares of the technology company’s stock valued at $1,438,000 after buying an additional 2,162 shares during the last quarter. Norway Savings Bank boosted its position in shares of AT&T by 1.8% in the second quarter. Norway Savings Bank now owns 20,158 shares of the technology company’s stock valued at $760,000 after buying an additional 365 shares during the last quarter. Clean Yield Group boosted its position in shares of AT&T by 2.6% in the second quarter. Clean Yield Group now owns 17,954 shares of the technology company’s stock valued at $652,000 after buying an additional 450 shares during the last quarter. Finally, Peoples Financial Services CORP. boosted its position in shares of AT&T by 0.8% in the second quarter. Peoples Financial Services CORP. now owns 72,419 shares of the technology company’s stock valued at $2,731,000 after buying an additional 582 shares during the last quarter. 55.34% of the stock is owned by institutional investors.
AT&T Inc. (NYSE T) opened at 36.51 on Friday. The company’s 50 day moving average is $37.85 and its 200-day moving average is $40.00. The firm has a market cap of $224.46 billion, a price-to-earnings ratio of 17.85 and a beta of 0.47. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.50.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, April 25th. The technology company reported $0.74 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.74. The firm had revenue of $39.40 billion for the quarter, compared to analyst estimates of $40.50 billion. AT&T had a net margin of 7.77% and a return on equity of 14.22%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that AT&T Inc. will post $2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a yield of 5.37%. AT&T’s dividend payout ratio (DPR) is presently 96.08%.
Several equities analysts have recently commented on T shares. Zacks Investment Research cut shares of AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Instinet reaffirmed a “buy” rating and set a $45.00 price target (down previously from $46.00) on shares of AT&T in a research report on Sunday, April 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of AT&T in a research report on Wednesday, April 19th. ValuEngine cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of AT&T in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T currently has an average rating of “Hold” and a consensus price target of $43.66.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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