LifePlan Financial Group Inc decreased its stake in AT&T Inc. (NYSE:T) by 13.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,590 shares of the technology company’s stock after selling 1,841 shares during the period. LifePlan Financial Group Inc’s holdings in AT&T were worth $350,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of T. TradeLink Capital LLC acquired a new stake in AT&T during the 2nd quarter worth $667,000. Washington Trust Bank boosted its stake in AT&T by 16.2% during the 2nd quarter. Washington Trust Bank now owns 52,576 shares of the technology company’s stock worth $1,589,000 after purchasing an additional 7,330 shares during the period. State of Michigan Retirement System boosted its stake in AT&T by 8.7% during the 2nd quarter. State of Michigan Retirement System now owns 1,819,711 shares of the technology company’s stock worth $55,010,000 after purchasing an additional 145,179 shares during the period. Duality Advisers LP acquired a new stake in AT&T during the 2nd quarter worth $300,000. Finally, Everett Harris & Co. CA boosted its stake in AT&T by 3.6% during the 2nd quarter. Everett Harris & Co. CA now owns 46,891 shares of the technology company’s stock worth $1,418,000 after purchasing an additional 1,610 shares during the period. Institutional investors and hedge funds own 53.74% of the company’s stock.
NYSE:T traded up $0.01 during mid-day trading on Friday, hitting $29.58. 38,694,208 shares of the company’s stock traded hands, compared to its average volume of 32,539,284. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.76 and a current ratio of 0.81. The firm’s 50 day simple moving average is $30.01 and its 200 day simple moving average is $32.47. AT&T Inc. has a 1 year low of $26.08 and a 1 year high of $39.70. The company has a market cap of $212.40 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.67 and a beta of 0.72.
AT&T (NYSE:T) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, research analysts expect that AT&T Inc. will post 3.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, July 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.03%. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
In other news, Director Stephen J. Luczo purchased 100,000 shares of the stock in a transaction dated Thursday, July 23rd. The stock was acquired at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.
A number of analysts recently weighed in on T shares. Wells Fargo & Co decreased their price target on shares of AT&T from $36.00 to $28.00 and set an “equal weight” rating for the company in a research note on Friday, April 3rd. Barclays restated a “hold” rating and issued a $33.00 target price on shares of AT&T in a research note on Friday, April 17th. Deutsche Bank reduced their target price on shares of AT&T from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. SunTrust Banks reduced their target price on shares of AT&T from $36.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 3rd. Finally, Royal Bank of Canada reduced their target price on shares of AT&T from $38.00 to $32.00 in a research note on Friday, July 24th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.29.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
Further Reading: Sell-Side Analysts
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