Chelsea Counsel Co. Sells 495 Shares of AT&T Inc. $T

Chelsea Counsel Co. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 29.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,202 shares of the technology company’s stock after selling 495 shares during the period. Chelsea Counsel Co.’s holdings in AT&T were worth $35,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in AT&T during the first quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the second quarter valued at $26,000. Hager Investment Management Services LLC boosted its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the period. IMA Advisory Services Inc. bought a new stake in AT&T during the first quarter valued at $29,000. Finally, Core Alternative Capital boosted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on T shares. Barclays set a $30.00 price target on AT&T in a research note on Wednesday. Morgan Stanley lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Stock Performance

Shares of T opened at $28.25 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average price is $28.64 and its 200-day moving average price is $27.91. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The stock has a market cap of $202.00 billion, a P/E ratio of 16.05, a P/E/G ratio of 3.59 and a beta of 0.44.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 annualized dividend and a yield of 3.9%. AT&T’s dividend payout ratio is 63.07%.

AT&T Profile

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.