AT&T Inc. (T) Stake Lowered by V Wealth Management LLC

V Wealth Management LLC cut its position in shares of AT&T Inc. (NYSE:T) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. 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 reporting period.

Several other hedge funds have also bought and sold shares of T. Ullmann Financial Group Inc. purchased a new stake in AT&T during the first quarter worth approximately $101,000. Feltz Wealth PLAN Inc. purchased a new stake in AT&T during the first quarter worth approximately $104,000. Taylor Wealth Management Partners increased its stake in AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in AT&T during the first quarter worth approximately $109,000. Finally, Empirical Finance LLC purchased a new stake in AT&T during the fourth quarter worth approximately $116,000. Hedge funds and other institutional investors own 55.28% of the company’s stock.

Shares of AT&T Inc. (T) opened at 38.36 on Thursday. AT&T Inc. has a 52 week low of $35.81 and a 52 week high of $43.48. The firm’s 50-day moving average price is $37.57 and its 200 day moving average price is $39.68. The firm has a market capitalization of $235.53 billion, a price-to-earnings ratio of 18.10 and a beta of 0.47.

AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business had revenue of $39.84 billion during the quarter, compared to analyst estimates of $39.84 billion. During the same period last year, the company earned $0.72 earnings per share. AT&T’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post $2.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 annualized dividend and a dividend yield of 5.11%. AT&T’s dividend payout ratio is 92.45%.

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A number of analysts have commented on the company. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 target price on shares of AT&T in a research report on Wednesday, April 19th. SunTrust Banks, Inc. assumed coverage on AT&T in a research report on Tuesday, April 18th. They set a “hold” rating and a $40.00 target price on the stock. Macquarie reiterated a “buy” rating and set a $45.00 target price (down from $46.00) on shares of AT&T in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $41.00 target price on shares of AT&T in a research report on Saturday, April 29th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $41.00 target price (down from $42.00) on shares of AT&T in a research report on Saturday, April 29th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and eleven have given a buy rating to the company. AT&T currently has a consensus rating of “Hold” and a consensus target price of $43.40.

About AT&T

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.