Prospect Financial Services LLC Has $388,000 Holdings in AT&T Inc. $T

Prospect Financial Services LLC cut its stake in AT&T Inc. (NYSE:T) by 21.2% in the second quarter, Holdings Channel.com reports. The firm owned 13,398 shares of the technology company’s stock after selling 3,594 shares during the period. Prospect Financial Services LLC’s holdings in AT&T were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of T. Stone House Investment Management LLC bought a new stake in shares of AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in AT&T during the second quarter valued at about $26,000. Solstein Capital LLC raised its holdings in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares in the last quarter. Kennebec Savings Bank raised its holdings in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T in the 1st quarter worth approximately $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.2%

Shares of AT&T stock opened at $25.71 on Friday. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The stock has a market capitalization of $182.23 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The company has a 50-day simple moving average of $26.83 and a 200 day simple moving average of $27.57. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on T shares. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. UBS Group reissued a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T Company 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.