YHB Investment Advisors Inc. Trims Stock Holdings in AT&T Inc. (NYSE:T)

YHB Investment Advisors Inc. trimmed its holdings in AT&T Inc. (NYSE:TGet Rating) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,567 shares of the technology company’s stock after selling 1,491 shares during the quarter. YHB Investment Advisors Inc.’s holdings in AT&T were worth $221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bailard Inc. increased its holdings in AT&T by 19.1% during the 1st quarter. Bailard Inc. now owns 12,407 shares of the technology company’s stock worth $293,000 after purchasing an additional 1,994 shares during the period. Gateway Investment Advisers LLC increased its holdings in shares of AT&T by 31.0% in the 2nd quarter. Gateway Investment Advisers LLC now owns 494,420 shares of the technology company’s stock valued at $10,363,000 after acquiring an additional 117,090 shares during the period. CAPROCK Group Inc. increased its holdings in shares of AT&T by 55.2% in the 1st quarter. CAPROCK Group Inc. now owns 51,579 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 18,347 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of AT&T by 8.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 464,835 shares of the technology company’s stock valued at $11,435,000 after acquiring an additional 37,205 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of AT&T by 1.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 67,128 shares of the technology company’s stock valued at $1,586,000 after acquiring an additional 1,152 shares during the period. 52.88% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $16.24 on Friday. The stock has a 50-day simple moving average of $18.00 and a two-hundred day simple moving average of $20.03. The firm has a market capitalization of $115.73 billion, a P/E ratio of 5.97, a PEG ratio of 1.91 and a beta of 0.48. AT&T Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $21.53. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70.

AT&T (NYSE:TGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The firm had revenue of $29.64 billion during the quarter, compared to analyst estimates of $29.48 billion. During the same quarter in the previous year, the business earned $0.89 EPS. AT&T’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.54 earnings per share for the current year.

AT&T Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 annualized dividend and a dividend yield of 6.83%. AT&T’s dividend payout ratio is presently 40.81%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on T shares. Cowen cut their price target on AT&T from $27.00 to $24.00 and set a “market perform” rating on the stock in a report on Friday, July 22nd. Moffett Nathanson cut their price target on AT&T from $19.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, August 18th. Truist Financial lowered their price objective on AT&T to $21.00 in a research report on Friday, July 22nd. Wolfe Research lowered their price objective on AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Finally, Raymond James reissued an “outperform” rating and issued a $26.00 price objective on shares of AT&T in a research report on Thursday, July 7th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.41.

AT&T Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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