QTR Family Wealth LLC Cuts Stock Holdings in AT&T Inc. $T

QTR Family Wealth LLC lowered its position in AT&T Inc. (NYSE:T) by 2.4% during the second quarter, Holdings Channel reports. The institutional investor owned 15,378 shares of the technology company’s stock after selling 386 shares during the quarter. QTR Family Wealth LLC’s holdings in AT&T were worth $445,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of T. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the 2nd quarter worth approximately $5,266,758,000. Nuveen LLC bought a new position in shares of AT&T during the 1st quarter worth approximately $1,072,128,000. GQG Partners LLC raised its stake in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on T. UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday, September 18th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. 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 research report on Wednesday, July 16th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Stock Up 0.6%

NYSE:T opened at $28.25 on Wednesday. The company has a market cap of $202.00 billion, a PE ratio of 16.05, a P/E/G ratio of 3.59 and a beta of 0.44. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $28.64 and its two-hundred day moving average is $27.91.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend 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.