Commonwealth Equity Services LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Commonwealth Equity Services LLC lowered its stake in AT&T Inc. (NYSE:T) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,179,808 shares of the technology company’s stock after selling 42,997 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of AT&T worth $79,876,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of T. Frank Rimerman Advisors LLC purchased a new stake in AT&T in the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of 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 buying an additional 1,116 shares in the last quarter. First Pacific Financial grew its holdings in AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 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 acquiring an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on T shares. UBS Group reaffirmed a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI upped their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Trading Up 0.7 %

Shares of NYSE:T traded up $0.14 during trading on Friday, reaching $19.90. The stock had a trading volume of 29,362,657 shares, compared to its average volume of 35,488,664. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market cap of $142.69 billion, a P/E ratio of 10.70, a PEG ratio of 3.26 and a beta of 0.58. The business has a fifty day moving average price of $19.14 and a 200-day moving average price of $17.88. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $19.99.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T 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.