Stockman Wealth Management Inc. Cuts Holdings in AT&T Inc. $T

Stockman Wealth Management Inc. trimmed its position in AT&T Inc. (NYSE:T) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,646 shares of the technology company’s stock after selling 400 shares during the period. Stockman Wealth Management Inc.’s holdings in AT&T were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. David J Yvars Group increased its holdings in shares of AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC increased its holdings in shares of 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 buying an additional 378 shares during the last quarter. Next Level Private LLC increased its holdings in shares of 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 buying an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc increased its holdings in shares of 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 buying an additional 380 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock worth $1,470,000 after buying an additional 381 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Sanford C. Bernstein increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Scotiabank increased their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

AT&T Stock Performance

Shares of T stock opened at $28.31 on Friday. 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. The stock has a market capitalization of $202.43 billion, a PE ratio of 16.09, a P/E/G ratio of 3.62 and a beta of 0.44. The firm has a 50 day moving average of $28.61 and a two-hundred day moving average of $27.89.

AT&T (NYSE:T) last issued its quarterly earnings results 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 company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the company posted $0.51 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, research 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 will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 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.