AT&T Inc. (NYSE:T) Shares Sold by Prossimo Advisors LLC

Prossimo Advisors LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,659 shares of the technology company’s stock after selling 504 shares during the period. Prossimo Advisors LLC’s holdings in AT&T were worth $810,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of T. Brighton Jones LLC increased its holdings in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares during the period. Financial Engines Advisors L.L.C. boosted its stake in AT&T by 58.4% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 25,546 shares of the technology company’s stock valued at $582,000 after purchasing an additional 9,418 shares during the period. Sava Infond d.o.o. bought a new position in AT&T in the 4th quarter worth about $91,000. Howe & Rusling Inc. acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $243,000. Finally, Providence Capital Advisors LLC increased its stake in shares of AT&T by 0.6% in the fourth quarter. Providence Capital Advisors LLC now owns 184,748 shares of the technology company’s stock valued at $4,207,000 after purchasing an additional 1,128 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Williams Trading set a $30.00 price objective on AT&T in a research report on Thursday, April 24th. UBS Group reiterated a “buy” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Barclays lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.66.

AT&T Trading Up 0.3%

Shares of T opened at $28.02 on Friday. The business’s 50-day moving average price is $27.81 and its 200 day moving average price is $26.62. The company has a current ratio of 0.81, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $201.58 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.48 and a beta of 0.42. AT&T Inc. has a 1-year low of $18.64 and a 1-year high of $29.19.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.96%. The ex-dividend date is Thursday, July 10th. AT&T’s payout ratio is 63.07%.

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.