AT&T Inc. (NYSE:T) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 57.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,384 shares of the technology company’s stock after selling 11,283 shares during the quarter. ICA Group Wealth Management LLC’s holdings in AT&T were worth $160,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Vantage Financial Partners LLC boosted its position in shares of AT&T by 25.5% in the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock worth $641,000 after acquiring an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. grew its stake in shares of AT&T by 4.1% during the 4th quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after buying an additional 1,212 shares during the period. Aveo Capital Partners LLC increased its holdings in shares of 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 buying an additional 1,194 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of AT&T by 21.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after buying an additional 4,870 shares during the last quarter. Finally, Fiera Capital Corp purchased a new position in shares of AT&T in the 4th quarter worth $207,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Stock Up 0.2 %

Shares of NYSE T opened at $21.64 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $21.86. The stock’s 50-day simple moving average is $19.59 and its 200-day simple moving average is $18.18. The firm has a market cap of $155.16 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 3.65 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 analyst estimates of $30.05 billion. During the same quarter last year, the firm earned $0.63 EPS. AT&T’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

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