Dynamic Advisor Solutions LLC cut its position in shares of AT&T Inc. (NYSE:T) by 11.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,941 shares of the technology company’s stock after selling 15,308 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in AT&T were worth $3,337,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Newton One Investments LLC acquired a new stake in AT&T during the second quarter worth about $27,000. IronBridge Private Wealth LLC acquired a new stake in shares of AT&T in the first quarter valued at about $30,000. Interactive Financial Advisors grew its stake in shares of AT&T by 65.8% in the first quarter. Interactive Financial Advisors now owns 1,101 shares of the technology company’s stock valued at $33,000 after buying an additional 437 shares in the last quarter. Cypress Point Wealth Management LLC grew its stake in shares of AT&T by 4,411.8% in the second quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock valued at $44,000 after buying an additional 1,500 shares in the last quarter. Finally, Roble Belko & Company Inc grew its stake in shares of AT&T by 21.7% in the first quarter. Roble Belko & Company Inc now owns 1,824 shares of the technology company’s stock valued at $55,000 after buying an additional 325 shares in the last quarter. Institutional investors own 51.61% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Argus lowered AT&T from a “buy” rating to a “hold” rating and set a $28.09 target price for the company. in a research note on Tuesday, July 27th. Royal Bank of Canada started coverage on AT&T in a report on Thursday, July 22nd. They issued a “hold” rating and a $30.00 price target for the company. Redburn Partners started coverage on AT&T in a report on Friday, June 25th. They issued a “sell” rating and a $23.00 price target for the company. New Street Research raised AT&T from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Friday, May 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $34.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Hold” and an average price target of $31.16.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The company had revenue of $44.05 billion for the quarter, compared to analysts’ expectations of $42.39 billion. During the same period last year, the firm earned $0.83 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 3.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.55%. The ex-dividend date of this dividend was Thursday, July 8th. AT&T’s dividend payout ratio is presently 65.41%.
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
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