AT&T Inc. $T Stock Position Trimmed by Strategic Blueprint LLC

Strategic Blueprint LLC cut its position in AT&T Inc. (NYSE:T) by 14.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 30,749 shares of the technology company’s stock after selling 5,031 shares during the quarter. Strategic Blueprint LLC’s holdings in AT&T were worth $890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Parcion Private Wealth LLC lifted its position in AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after buying an additional 364 shares in the last quarter. David J Yvars Group lifted its position in AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after purchasing an additional 372 shares during the period. AllSquare Wealth Management LLC raised its position in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after acquiring an additional 378 shares during the period. Barnes Wealth Management Group Inc raised its position in shares of AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after acquiring an additional 380 shares during the period. Finally, Kathmere Capital Management LLC raised its position in shares of AT&T by 0.8% in the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after acquiring an additional 381 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. Morgan Stanley increased their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. TD Cowen raised their price target on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $30.67.

AT&T Trading Up 2.2%

Shares of AT&T stock opened at $25.17 on Friday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.76. The company has a market capitalization of $179.95 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 1.99 and a beta of 0.42. The business has a fifty day simple moving average of $27.97 and a two-hundred day simple moving average of $27.75.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s 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.