Seven Mile Advisory Sells 3,344 Shares of AT&T Inc. (NYSE:T)

Seven Mile Advisory decreased its stake in AT&T Inc. (NYSE:T) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,191 shares of the technology company’s stock after selling 3,344 shares during the period. Seven Mile Advisory’s holdings in AT&T were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vantage Financial Partners LLC grew its holdings in shares of AT&T by 25.5% during the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock worth $641,000 after purchasing an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. boosted its position in AT&T by 4.1% during the 4th quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after buying an additional 1,212 shares during the period. Aveo Capital Partners LLC grew its holdings in AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after acquiring an additional 1,194 shares during the last quarter. Gryphon Financial Partners LLC increased its position in AT&T by 21.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after acquiring an additional 4,870 shares during the period. Finally, Fiera Capital Corp acquired a new position in AT&T in the 4th quarter valued at approximately $207,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on T shares. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays lifted their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Stock Performance

Shares of T opened at $21.64 on Friday. AT&T Inc. has a one year low of $14.12 and a one year high of $21.86. The company has a market cap of $155.16 billion, a PE ratio of 11.63, a P/E/G ratio of 3.65 and a beta of 0.59. The stock has a 50-day moving average of $19.59 and a 200-day moving average of $18.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.13%. AT&T’s payout ratio is 59.68%.

About AT&T

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.