AT&T Inc. $T Shares Sold by Wealth Alliance LLC

Wealth Alliance LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,760 shares of the technology company’s stock after selling 10,285 shares during the period. Wealth Alliance LLC’s holdings in AT&T were worth $1,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Denali Advisors LLC increased its stake in AT&T by 5.9% in the second 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 during the last quarter. Tredje AP fonden grew its holdings in AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after buying an additional 21,720 shares during the period. CHURCHILL MANAGEMENT Corp increased its stake 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 acquiring an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. acquired a new position in shares of AT&T during the 2nd quarter valued at about $489,000. Finally, Sentry Investment Management LLC lifted its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T opened at $25.19 on Wednesday. The business’s 50-day simple moving average is $26.97 and its 200 day simple moving average is $27.60. The company has a market cap of $178.55 billion, a P/E ratio of 8.18, a PEG ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were 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 was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on T shares. Sanford C. Bernstein boosted 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. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. TD Cowen upped their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.64.

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.