AT&T Inc. $T Shares Sold by Garde Capital Inc.

Garde Capital Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 29.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,023 shares of the technology company’s stock after selling 2,087 shares during the quarter. Garde Capital Inc.’s holdings in AT&T were worth $145,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in T. Capstone Wealth Management LLC acquired a new position in AT&T in the 1st quarter worth approximately $201,000. Wedmont Private Capital boosted its stake in AT&T by 7.9% in the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after purchasing an additional 9,027 shares during the period. Xponance Inc. boosted its stake in AT&T by 10.2% in the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after purchasing an additional 102,419 shares during the period. NBT Bank N A NY boosted its stake in AT&T by 7.5% in the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock worth $3,660,000 after purchasing an additional 8,989 shares during the period. Finally, Park Edge Advisors LLC acquired a new position in AT&T in the 1st quarter worth approximately $1,000,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.3%

AT&T stock opened at $29.59 on Friday. The firm has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a fifty day moving average price of $28.31 and a two-hundred day moving average price of $27.73.

AT&T (NYSE:T) last released its 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 firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research reports. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. The Goldman Sachs Group assumed 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. 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. Sanford C. Bernstein raised their price target 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. Finally, Scotiabank raised their price target on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.60.

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.