Stoneridge Investment Partners LLC Sells 3,050 Shares of AT&T Inc. (NYSE:T)

Stoneridge Investment Partners LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,191 shares of the technology company’s stock after selling 3,050 shares during the period. Stoneridge Investment Partners LLC’s holdings in AT&T were worth $1,265,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in AT&T in the fourth quarter worth $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T during the 4th quarter worth about $25,000. Strategic Financial Concepts LLC boosted its position in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. Finally, American Capital Advisory LLC raised its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $21.64 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.86. The stock’s 50 day moving average price is $19.59 and its two-hundred day moving average price is $18.17. The firm has a market capitalization of $155.13 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 3.65 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 earnings per share. On average, analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.13%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Barclays increased their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.31.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.