Keynote Financial Services LLC Sells 3,146 Shares of AT&T Inc. $T

Keynote Financial Services LLC decreased its holdings in AT&T Inc. (NYSE:T) by 2.7% in the second quarter, HoldingsChannel.com reports. The firm owned 111,531 shares of the technology company’s stock after selling 3,146 shares during the quarter. AT&T makes up 2.2% of Keynote Financial Services LLC’s holdings, making the stock its 7th biggest holding. Keynote Financial Services LLC’s holdings in AT&T were worth $3,228,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Blackston Financial Advisory Group LLC grew its holdings in AT&T by 16.8% in the second quarter. Blackston Financial Advisory Group LLC now owns 22,837 shares of the technology company’s stock valued at $661,000 after purchasing an additional 3,277 shares during the period. 49 Wealth Management LLC raised its stake in shares of AT&T by 12.8% during the 2nd quarter. 49 Wealth Management LLC now owns 26,768 shares of the technology company’s stock worth $775,000 after buying an additional 3,038 shares during the period. Aspen Wealth Strategies LLC lifted its position in shares of AT&T by 4.1% during the 2nd quarter. Aspen Wealth Strategies LLC now owns 11,806 shares of the technology company’s stock valued at $342,000 after buying an additional 463 shares in the last quarter. Samalin Investment Counsel LLC grew its stake in AT&T by 12.9% in the 2nd quarter. Samalin Investment Counsel LLC now owns 9,591 shares of the technology company’s stock valued at $278,000 after acquiring an additional 1,097 shares during the period. Finally, Ibex Wealth Advisors increased its holdings in AT&T by 6.6% in the 2nd quarter. Ibex Wealth Advisors now owns 592,694 shares of the technology company’s stock worth $17,153,000 after acquiring an additional 36,892 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on T shares. Wall Street Zen cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Morgan Stanley lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $24.81 on Monday. The stock has a market cap of $175.85 billion, a PE ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a 50-day moving average of $27.14 and a 200 day moving average of $27.63.

AT&T (NYSE:T) last issued 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. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s payout ratio is 36.04%.

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.