AT&T Inc. $T Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 18.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,745 shares of the technology company’s stock after selling 5,430 shares during the period. Cyndeo Wealth Partners LLC’s holdings in AT&T were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. David J Yvars Group increased its holdings in shares of AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC increased its holdings in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after buying an additional 378 shares during the last quarter. Barnes Wealth Management Group Inc increased its holdings in shares of AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after buying an additional 380 shares during the last quarter. Kathmere Capital Management LLC increased its holdings in shares of AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock worth $1,470,000 after buying an additional 381 shares during the last quarter. Finally, James J. Burns & Company LLC increased its holdings in shares of AT&T by 1.0% during the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock worth $1,168,000 after buying an additional 383 shares during 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 recent analyst reports. 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 report on Thursday, July 24th. Barclays restated an “equal weight” rating and set a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a report on Monday. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report 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 assigned a Hold rating to the stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $30.75.

AT&T Stock Performance

Shares of T stock opened at $25.85 on Friday. 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 Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The stock has a market capitalization of $184.82 billion, a PE ratio of 14.69, a P/E/G ratio of 2.12 and a beta of 0.42. The firm has a 50 day moving average of $28.45 and a two-hundred day moving average of $27.88.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during 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 company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is 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.