TruNorth Capital Management LLC Sells 1,262 Shares of AT&T Inc. $T

TruNorth Capital Management LLC lowered its stake in AT&T Inc. (NYSE:T) by 45.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,540 shares of the technology company’s stock after selling 1,262 shares during the period. TruNorth Capital Management LLC’s holdings in AT&T were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. B.O.S.S. Retirement Advisors LLC grew its holdings in AT&T by 7.9% during the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 10,889 shares of the technology company’s stock worth $315,000 after acquiring an additional 796 shares during the period. Heritage Financial Services LLC lifted its position in AT&T by 35.5% in the 2nd quarter. Heritage Financial Services LLC now owns 13,899 shares of the technology company’s stock valued at $402,000 after acquiring an additional 3,640 shares in the last quarter. Vigilare Wealth Management bought a new stake in AT&T in the 2nd quarter valued at $314,000. Trilogy Capital Inc. lifted its position in AT&T by 86.1% during the 2nd quarter. Trilogy Capital Inc. now owns 22,233 shares of the technology company’s stock worth $643,000 after buying an additional 10,284 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in AT&T by 3.9% during the 2nd quarter. Trust Co. of Vermont now owns 106,101 shares of the technology company’s stock worth $3,071,000 after buying an additional 3,977 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Stock Performance

AT&T stock opened at $27.55 on Thursday. The stock has a market cap of $196.96 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. The firm’s fifty day moving average price is $28.63 and its 200-day moving average price is $27.91. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts expect 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. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

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.