Prossimo Advisors LLC Decreases Position in AT&T Inc. $T

Prossimo Advisors LLC decreased its stake in AT&T Inc. (NYSE:T) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,007 shares of the technology company’s stock after selling 3,652 shares during the quarter. Prossimo Advisors LLC’s holdings in AT&T were worth $724,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Stone House Investment Management LLC bought a new position in AT&T during the first quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T in the 2nd quarter worth about $26,000. Kennebec Savings Bank boosted its stake in shares of 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 purchasing an additional 783 shares during the period. Solstein Capital LLC boosted its stake in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Finally, Curio Wealth LLC grew its holdings in AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,044 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $25.99 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock’s fifty day moving average price is $26.02 and its 200-day moving average price is $27.43. The firm has a market cap of $184.25 billion, a P/E ratio of 8.44, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group reissued a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Barclays reduced their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Sanford C. Bernstein boosted their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Williams Trading set a $33.00 target price on AT&T in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada decreased their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.64.

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.