AT&T Inc. $T Shares Sold by Solitude Financial Services

Solitude Financial Services decreased its stake in AT&T Inc. (NYSE:T) by 40.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,210 shares of the technology company’s stock after selling 20,212 shares during the quarter. AT&T comprises approximately 0.3% of Solitude Financial Services’ portfolio, making the stock its 21st largest position. Solitude Financial Services’ holdings in AT&T were worth $874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of AT&T in the first quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T in the second quarter worth about $26,000. Hager Investment Management Services LLC boosted its position in shares of AT&T by 182.1% in 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. Kennebec Savings Bank boosted its position in shares of AT&T by 412.1% in 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. Finally, Core Alternative Capital boosted its position in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 4.4%

Shares of AT&T stock opened at $25.88 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The business’s 50 day simple moving average is $28.56 and its 200-day simple moving average is $27.92. The stock has a market capitalization of $185.05 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 3.46 and a beta of 0.42. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm 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 $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analyst Ratings Changes

A number of brokerages recently commented on T. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Saturday, September 27th. UBS Group set a $33.00 price objective on AT&T in a research note on Thursday, September 18th. Wells Fargo & Company upped their price objective on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Sanford C. Bernstein upped their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

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.