Richard W. Paul & Associates LLC Cuts Stake in AT&T Inc. $T

Richard W. Paul & Associates LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 18.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,247 shares of the technology company’s stock after selling 7,706 shares during the period. Richard W. Paul & Associates LLC’s holdings in AT&T were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Wall Street Zen cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

AT&T Trading Up 1.6%

Shares of AT&T stock opened at $25.94 on Friday. The stock has a 50 day moving average of $26.37 and a 200 day moving average of $27.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market capitalization of $183.90 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

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.