Joel Isaacson & Co. LLC Reduces Stock Holdings in AT&T Inc. $T

Joel Isaacson & Co. LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 54,519 shares of the technology company’s stock after selling 430 shares during the period. Joel Isaacson & Co. LLC’s holdings in AT&T were worth $1,578,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the second quarter valued at approximately $26,000. Hager Investment Management Services LLC grew its stake in shares of 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 last quarter. Kennebec Savings Bank raised its holdings in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the period. Finally, Core Alternative Capital lifted its stake in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T opened at $25.88 on Tuesday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. 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 company’s fifty day moving average price is $28.56 and its 200 day moving average price is $27.92. The company has a market capitalization of $185.05 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is 63.07%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Barclays reiterated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. Finally, HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

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.