TrueWealth Advisors LLC Sells 1,174 Shares of AT&T Inc. $T

TrueWealth Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,660 shares of the technology company’s stock after selling 1,174 shares during the quarter. TrueWealth Advisors LLC’s holdings in AT&T were worth $2,161,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. 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 buying an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $213,000. Occudo Quantitative Strategies LP purchased a new stake in shares of AT&T in the 4th quarter worth about $324,000. ProShare Advisors LLC increased its stake in shares of AT&T by 14.1% in the 4th quarter. ProShare Advisors LLC now owns 1,063,500 shares of the technology company’s stock worth $24,216,000 after acquiring an additional 131,702 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its stake in AT&T by 12.5% during the 4th quarter. Rafferty Asset Management LLC now owns 622,809 shares of the technology company’s stock valued at $14,181,000 after purchasing an additional 69,362 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of several recent research reports. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. UBS Group set a $32.00 price target on shares of AT&T in a research report on Thursday, September 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. Finally, Morgan Stanley boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. One equities 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

AT&T Stock Up 0.3%

T stock opened at $29.59 on Friday. The firm has a 50 day moving average of $28.31 and a 200 day moving average of $27.73. The stock has a market capitalization of $211.58 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44. 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 52 week low of $21.05 and a 52 week high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating 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 business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the business posted $0.51 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

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

About AT&T

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.