Uhlmann Price Securities LLC Lowers Stake in AT&T Inc. $T

Uhlmann Price Securities LLC cut its holdings in AT&T Inc. (NYSE:T) by 19.4% during the second quarter, HoldingsChannel reports. The firm owned 9,892 shares of the technology company’s stock after selling 2,376 shares during the period. Uhlmann Price Securities LLC’s holdings in AT&T were worth $286,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in T. Chicago Partners Investment Group LLC grew its holdings in shares of AT&T by 0.9% during the second quarter. Chicago Partners Investment Group LLC now owns 63,905 shares of the technology company’s stock worth $1,773,000 after buying an additional 566 shares during the last quarter. Sigma Investment Counselors Inc. purchased a new position in shares of AT&T in the 2nd quarter valued at approximately $241,000. Wingate Wealth Advisors Inc. purchased a new position in shares of AT&T in the 2nd quarter valued at approximately $218,000. Arcus Capital Partners LLC acquired a new position in shares of AT&T in the second quarter valued at approximately $205,000. Finally, TrueMark Investments LLC raised its stake in shares of AT&T by 2.4% during the second quarter. TrueMark Investments LLC now owns 450,645 shares of the technology company’s stock worth $13,042,000 after purchasing an additional 10,748 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $26.33 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The business’s fifty day moving average price is $28.27 and its two-hundred day moving average price is $27.80. The stock has a market cap of $188.24 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (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 the consensus estimate 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 was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Bank of America assumed coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Barclays reissued an “equal weight” rating and set a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $30.65.

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.