Total Clarity Wealth Management Inc. Has $500,000 Holdings in AT&T Inc. (NYSE:T)

Total Clarity Wealth Management Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 46.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,144 shares of the technology company’s stock after selling 22,603 shares during the period. Total Clarity Wealth Management Inc.’s holdings in AT&T were worth $500,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of T. Vanguard Group Inc. raised its stake in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp raised its position in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. LSV Asset Management raised its position in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares during the period. Thornburg Investment Management Inc. grew its position in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the period. Finally, State of Michigan Retirement System grew its position in AT&T by 9.0% in the 2nd quarter. State of Michigan Retirement System now owns 20,072,613 shares of the technology company’s stock valued at $383,588,000 after purchasing an additional 1,662,100 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 2.9 %

Shares of NYSE T opened at $22.28 on Tuesday. The stock has a market capitalization of $159.72 billion, a P/E ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a one year low of $14.12 and a one year high of $22.34. The firm’s 50 day simple moving average is $19.66 and its two-hundred day simple moving average is $18.22. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business 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 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Oppenheimer lifted their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays raised their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.31.

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.