Tounjian Advisory Partners LLC Sells 2,178 Shares of AT&T Inc. $T

Tounjian Advisory Partners LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 1.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,220 shares of the technology company’s stock after selling 2,178 shares during the quarter. Tounjian Advisory Partners LLC’s holdings in AT&T were worth $3,569,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. David J Yvars Group raised its holdings in shares of AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC raised its holdings in AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC raised its holdings in AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after purchasing an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc raised its holdings in AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after purchasing an additional 380 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC raised its holdings in AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after purchasing an additional 384 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of T opened at $29.37 on Wednesday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a 50 day simple moving average of $28.35 and a 200 day simple moving average of $27.77. The firm has a market capitalization of $210.01 billion, a PE ratio of 16.69, a P/E/G ratio of 3.68 and a beta of 0.44.

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

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on T shares. Scotiabank boosted their price objective on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. UBS Group set a $32.00 price objective on AT&T in a report on Thursday, September 4th. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. Morgan Stanley boosted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $30.60.

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.