Strategic Financial Group LLC Sells 804 Shares of AT&T Inc. (NYSE:T)
Strategic Financial Group LLC cut its position in shares of AT&T Inc. (NYSE:T) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 34,208 shares of the technology company’s stock after selling 804 shares during the period. Strategic Financial Group LLC’s holdings in AT&T were worth $1,146,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in T. Horan Securities Inc. grew its position in AT&T by 439.2% during the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after acquiring an additional 830 shares during the last quarter. NuWave Investment Management LLC purchased a new stake in AT&T in the 4th quarter worth approximately $40,000. Contravisory Investment Management Inc. lifted its holdings in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after buying an additional 338 shares during the period. Smart Portfolios LLC lifted its holdings in AT&T by 44.8% in the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock worth $46,000 after buying an additional 500 shares during the period. Finally, Centaurus Financial Inc. lifted its holdings in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 53.05% of the company’s stock.
Several equities research analysts have weighed in on T shares. Morgan Stanley reiterated a “buy” rating and issued a $37.00 price objective on shares of AT&T in a report on Thursday, August 1st. Bank of America reiterated a “buy” rating and issued a $37.00 price objective on shares of AT&T in a report on Monday, June 24th. Cowen increased their price objective on AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a report on Thursday, July 25th. Finally, Raymond James increased their price objective on AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. AT&T currently has an average rating of “Buy” and a consensus price target of $36.72.
Shares of T traded up $0.36 on Tuesday, reaching $34.84. The stock had a trading volume of 11,474,842 shares, compared to its average volume of 33,241,594. The firm has a market capitalization of $252.38 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.62. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $33.66. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $34.64.
AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.89. The company had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. As a group, sell-side analysts predict that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date was Tuesday, July 9th. AT&T’s payout ratio is presently 57.95%.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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