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

Premier Path Wealth Partners LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,459 shares of the technology company’s stock after selling 3,386 shares during the period. Premier Path Wealth Partners LLC’s holdings in AT&T were worth $2,820,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Denali Advisors LLC increased its holdings in AT&T by 5.9% in the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after purchasing an additional 22,394 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after buying an additional 4,793 shares during the period. Kickstand Ventures LLC. acquired a new position in AT&T during the 2nd quarter worth approximately $489,000. Sentry Investment Management LLC lifted its position in AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after acquiring an additional 13,370 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. boosted its holdings in AT&T by 1.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after acquiring an additional 9,970 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 2.2%

NYSE T opened at $25.13 on Thursday. The company has a market capitalization of $179.66 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company’s fifty day moving average price is $27.75 and its two-hundred day moving average price is $27.74.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analyst Ratings Changes

A number of research firms have recently issued reports on T. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

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.