Center for Financial Planning Inc. Decreases Stock Holdings in AT&T Inc. $T

Center for Financial Planning Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,058 shares of the technology company’s stock after selling 596 shares during the quarter. Center for Financial Planning Inc.’s holdings in AT&T were worth $378,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after buying an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the second quarter valued at approximately $5,266,758,000. GQG Partners LLC grew its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after buying an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after buying an additional 1,307,009 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $24.76 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a fifty day moving average price of $27.57 and a 200 day moving average price of $27.70. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The firm has a market cap of $177.01 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 2.16 and a beta of 0.42.

AT&T (NYSE:T) last issued 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 net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. AT&T’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Sanford C. Bernstein upped 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. Finally, Williams Trading set a $33.00 price target on shares of AT&T in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

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.