Consolidated Planning Corp Sells 728 Shares of AT&T Inc. $T

Consolidated Planning Corp reduced its position in AT&T Inc. (NYSE:T) by 0.2% in the 2nd quarter, Holdings Channel reports. The firm owned 308,570 shares of the technology company’s stock after selling 728 shares during the quarter. AT&T comprises approximately 1.1% of Consolidated Planning Corp’s investment portfolio, making the stock its 26th biggest position. Consolidated Planning Corp’s holdings in AT&T were worth $8,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Brighton Jones LLC lifted its position in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of AT&T by 24.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock worth $397,000 after buying an additional 2,725 shares during the period. Apella Capital LLC lifted its position in shares of AT&T by 18.0% during the 1st quarter. Apella Capital LLC now owns 34,911 shares of the technology company’s stock worth $924,000 after buying an additional 5,321 shares during the period. Amplius Wealth Advisors LLC lifted its position in shares of AT&T by 18.2% during the 1st quarter. Amplius Wealth Advisors LLC now owns 15,224 shares of the technology company’s stock worth $431,000 after buying an additional 2,342 shares during the period. Finally, Contravisory Investment Management Inc. lifted its position in shares of AT&T by 89.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 40,242 shares of the technology company’s stock worth $1,138,000 after buying an additional 19,011 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Down 2.5%

NYSE T opened at $27.55 on Thursday. The stock has a fifty day moving average of $28.63 and a 200-day moving average of $27.91. The stock has a market capitalization of $196.96 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. 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.

AT&T (NYSE:T) last released its 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. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on T shares. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Barclays reaffirmed an “equal weight” rating and set a $30.00 price target on shares of AT&T in a report on Wednesday. Bank of America started coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price target for the company. Scotiabank raised their price target on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

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.