Shira Ridge Wealth Management Has $295,000 Position in AT&T Inc. $T

Shira Ridge Wealth Management lessened its position in AT&T Inc. (NYSE:T) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,187 shares of the technology company’s stock after selling 524 shares during the period. Shira Ridge Wealth Management’s holdings in AT&T were worth $295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Brighton Jones LLC increased its stake 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 valued at $1,106,000 after buying an additional 10,188 shares during the period. Yoffe Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at about $213,000. Visionary Wealth Advisors increased its stake in shares of AT&T by 24.1% in the fourth quarter. Visionary Wealth Advisors now owns 43,471 shares of the technology company’s stock valued at $990,000 after buying an additional 8,449 shares during the period. Waverly Advisors LLC grew its stake in AT&T by 12.0% during the fourth quarter. Waverly Advisors LLC now owns 339,011 shares of the technology company’s stock worth $7,719,000 after purchasing an additional 36,277 shares during the period. Finally, Glen Eagle Advisors LLC grew its stake in AT&T by 121.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 31,801 shares of the technology company’s stock worth $724,000 after purchasing an additional 17,459 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.6%

T stock opened at $29.52 on Thursday. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average is $28.38 and its 200-day moving average is $27.78. The firm has a market capitalization of $211.08 billion, a PE ratio of 16.77, a P/E/G ratio of 3.63 and a beta of 0.44.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on T. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Scotiabank raised their target price on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.60.

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.