Apexium Financial LP Lowers Stock Holdings in AT&T Inc. $T

Apexium Financial LP decreased its position in shares of AT&T Inc. (NYSE:T) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,156 shares of the technology company’s stock after selling 1,651 shares during the period. Apexium Financial LP’s holdings in AT&T were worth $2,175,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of AT&T by 24.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,725 shares during the last quarter. Beacon Financial Group grew its stake in shares of AT&T by 2.9% in the first quarter. Beacon Financial Group now owns 14,976 shares of the technology company’s stock worth $424,000 after purchasing an additional 417 shares during the last quarter. Fermata Advisors LLC bought a new stake in AT&T during the 1st quarter valued at approximately $227,000. Finally, Chesley Taft & Associates LLC boosted its position in AT&T by 5.0% during the 1st quarter. Chesley Taft & Associates LLC now owns 38,503 shares of the technology company’s stock valued at $1,089,000 after acquiring an additional 1,832 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Morgan Stanley lifted their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Barclays reiterated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a research note on Wednesday. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

AT&T Trading Up 0.2%

Shares of T stock opened at $27.06 on Friday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm has a fifty day moving average price of $28.60 and a 200-day moving average price of $27.91. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market cap of $193.49 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. AT&T’s payout ratio is presently 63.07%.

AT&T 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.