AT&T Inc. $T Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC lowered its stake in AT&T Inc. (NYSE:T) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 287,921 shares of the technology company’s stock after selling 1,787 shares during the period. AT&T accounts for 2.7% of Gilliland Jeter Wealth Management LLC’s portfolio, making the stock its 8th largest position. Gilliland Jeter Wealth Management LLC’s holdings in AT&T were worth $8,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.3% in 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 purchasing an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T in the second quarter valued at approximately $5,266,758,000. GQG Partners LLC increased its holdings in shares of AT&T by 17.7% in 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 purchasing an additional 17,177,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AT&T by 3.3% in 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 purchasing an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of AT&T by 2.5% in 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 purchasing an additional 1,307,009 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of 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 raised their price objective on shares of 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 given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Trading Down 0.5%

Shares of NYSE T opened at $26.12 on Friday. The company’s fifty day moving average is $28.49 and its 200-day moving average is $27.89. The stock has a market cap of $186.77 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 3.36 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. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 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 analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed 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 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

AT&T Company Profile

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.