Second Line Capital LLC Cuts Stake in AT&T Inc. $T

Second Line Capital LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,089 shares of the technology company’s stock after selling 2,710 shares during the quarter. Second Line Capital LLC’s holdings in AT&T were worth $1,021,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in T. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the first quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $27,000. Finally, Hager Investment Management Services LLC boosted 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 purchasing an additional 641 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.21.

AT&T Trading Up 1.2%

NYSE T opened at $29.29 on Friday. AT&T Inc. has a 12 month low of $19.62 and a 12 month high of $29.65. The stock has a market cap of $209.43 billion, a P/E ratio of 16.64, a P/E/G ratio of 3.58 and a beta of 0.42. The stock’s fifty day moving average price is $28.11 and its 200-day moving average price is $27.51. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio is currently 63.07%.

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.