Beverly Hills Private Wealth LLC Trims Stock Holdings in AT&T Inc. $T

Beverly Hills Private Wealth LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 3.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 44,561 shares of the technology company’s stock after selling 1,774 shares during the period. Beverly Hills Private Wealth LLC’s holdings in AT&T were worth $1,290,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp grew its stake in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. purchased a new stake in shares of AT&T in the second quarter valued at approximately $489,000. ASR Vermogensbeheer N.V. grew its stake in AT&T by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after purchasing an additional 9,970 shares in the last quarter. Simplicity Wealth LLC grew its stake in AT&T by 180.5% in the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock worth $3,302,000 after purchasing an additional 73,417 shares in the last quarter. Finally, Xponance Inc. increased its holdings in AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after purchasing an additional 102,419 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $26.33 on Monday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The firm has a market cap of $188.24 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 2.13 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a 50-day simple moving average of $28.27 and a two-hundred day simple moving average of $27.80.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the business posted $0.51 EPS. AT&T’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on T. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Wells Fargo & Company dropped their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Barclays restated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.65.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.