Wealth Architects LLC Sells 20,447 Shares of AT&T Inc. $T

Wealth Architects LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 63.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,960 shares of the technology company’s stock after selling 20,447 shares during the quarter. Wealth Architects LLC’s holdings in AT&T were worth $346,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T during the 2nd quarter worth $5,266,758,000. Nuveen LLC bought a new position in shares of AT&T in the 1st quarter worth $1,072,128,000. GQG Partners LLC grew its stake in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board increased its holdings in AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 1.0%

Shares of NYSE:T opened at $25.85 on Monday. The firm has a market cap of $184.82 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company’s fifty day simple moving average is $28.45 and its 200 day simple moving average is $27.88. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio is 63.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on T. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. Barclays reaffirmed an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a research note on Wednesday, October 1st. 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 research report on Thursday, July 10th. UBS Group set a $33.00 price target on shares of AT&T in a report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

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.