AT&T Inc. $T Shares Sold by Concord Wealth Partners

Concord Wealth Partners reduced its stake in AT&T Inc. (NYSE:T) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,500 shares of the technology company’s stock after selling 1,047 shares during the period. Concord Wealth Partners’ holdings in AT&T were worth $188,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new position in AT&T during the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T during the second quarter worth approximately $26,000. Kennebec Savings Bank boosted its position in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the period. Hager Investment Management Services LLC boosted its position in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in AT&T during the 1st quarter valued at $29,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T opened at $25.57 on Tuesday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a market cap of $182.80 billion, a PE ratio of 14.53, a P/E/G ratio of 2.10 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $28.41 and a 200-day simple moving average of $27.86.

AT&T (NYSE:T) last announced 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 business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal 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 given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. 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

A number of research analysts have recently commented on T shares. JPMorgan Chase & Co. raised their price target on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.75.

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.