Alpha Omega Wealth Management LLC Sells 11,595 Shares of AT&T Inc. (NYSE:T)

Alpha Omega Wealth Management LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 463,307 shares of the technology company’s stock after selling 11,595 shares during the period. AT&T comprises 1.7% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 10th biggest holding. Alpha Omega Wealth Management LLC’s holdings in AT&T were worth $8,854,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. First Pacific Financial raised its stake in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in shares of AT&T in the fourth quarter valued at approximately $39,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on T shares. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. TD Cowen boosted their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, UBS Group restated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Trading Up 0.2 %

Shares of AT&T stock traded up $0.03 on Monday, hitting $19.76. 22,597,620 shares of the company’s stock traded hands, compared to its average volume of 35,800,078. AT&T Inc. has a one year low of $14.11 and a one year high of $19.99. The stock has a market capitalization of $141.68 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm’s 50-day moving average price is $19.01 and its two-hundred day moving average price is $17.81.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.62%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

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.