AT&T Inc. $T Stake Cut by Good Steward Wealth Advisors LLC

Good Steward Wealth Advisors LLC cut its position in shares of AT&T Inc. (NYSE:T) by 35.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,003 shares of the technology company’s stock after selling 7,253 shares during the period. Good Steward Wealth Advisors LLC’s holdings in AT&T were worth $376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the 4th quarter worth about $25,000. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the 1st quarter worth about $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the 4th quarter worth about $27,000. Hager Investment Management Services LLC raised its stake in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares in the last quarter. Finally, Core Alternative Capital raised its stake in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on T. Scotiabank raised their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

AT&T Stock Performance

T opened at $29.59 on Friday. The firm has a market capitalization of $211.58 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44. The stock’s 50 day moving average price is $28.31 and its two-hundred day moving average price is $27.73. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

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

AT&T Dividend Announcement

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