LongView Wealth Management Sells 7,829 Shares of AT&T Inc. $T

LongView Wealth Management decreased its stake in AT&T Inc. (NYSE:T) by 18.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,116 shares of the technology company’s stock after selling 7,829 shares during the period. LongView Wealth Management’s holdings in AT&T were worth $987,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in AT&T in the fourth quarter worth about $25,000. Stone House Investment Management LLC bought a new stake in AT&T in the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the second quarter worth about $26,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the fourth quarter valued at approximately $27,000. Finally, Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% in 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. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.5%

Shares of T opened at $29.04 on Friday. The firm has a 50 day moving average price of $28.45 and a 200-day moving average price of $27.81. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two 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 firm has a market cap of $207.65 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.61 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $30.44 billion. During the same period in the prior year, the business posted $0.51 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on T. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Scotiabank boosted their price target 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. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Bank of America began coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

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.