TFB Advisors LLC Sells 614 Shares of AT&T Inc. (NYSE:T)

TFB Advisors LLC reduced its holdings in shares of AT&T Inc. (NYSE:T) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,343 shares of the technology company’s stock after selling 614 shares during the period. TFB Advisors LLC’s holdings in AT&T were worth $217,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in T. WealthCare Investment Partners LLC grew its holdings in shares of AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the period. Fortitude Family Office LLC grew its position in shares of AT&T by 1.3% in the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after buying an additional 559 shares during the period. FAS Wealth Partners Inc. grew its position in shares of AT&T by 1.8% in the 2nd quarter. FAS Wealth Partners Inc. now owns 32,692 shares of the technology company’s stock worth $625,000 after buying an additional 586 shares during the period. Riverview Trust Co increased its stake in shares of AT&T by 4.6% in the 2nd quarter. Riverview Trust Co now owns 13,368 shares of the technology company’s stock worth $255,000 after acquiring an additional 592 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its position in AT&T by 1.7% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after acquiring an additional 598 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on T shares. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Oppenheimer boosted their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

AT&T Trading Up 0.7 %

AT&T stock opened at $19.90 on Friday. The business has a 50-day simple moving average of $19.11 and a two-hundred day simple moving average of $17.86. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $19.99. 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 company has a market cap of $142.69 billion, a P/E ratio of 10.70, a P/E/G ratio of 3.26 and a beta of 0.58.

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

AT&T Dividend Announcement

The business also recently declared 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. This represents a $1.11 annualized dividend and a yield of 5.58%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 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.