Successful Portfolios LLC Has $540,000 Stock Holdings in AT&T Inc. $T

Successful Portfolios LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 18,670 shares of the technology company’s stock after selling 375 shares during the quarter. Successful Portfolios LLC’s holdings in AT&T were worth $540,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T during the 2nd quarter worth $26,000. Kennebec Savings Bank grew its holdings in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. acquired a new stake in AT&T during the 1st quarter worth $29,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on T. Barclays reaffirmed an “equal weight” rating and set a $30.00 target price on shares of AT&T in a report on Wednesday. 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 target on the stock. Morgan Stanley lifted their price target 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. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Finally, Sanford C. Bernstein lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Trading Up 0.2%

T opened at $27.06 on Friday. The stock has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm’s fifty day simple moving average is $28.60 and its 200 day simple moving average is $27.91. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its quarterly earnings data 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 business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

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.