Wealth Alliance Cuts Holdings in AT&T Inc. (NYSE:T)

Wealth Alliance trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,180 shares of the technology company’s stock after selling 8,202 shares during the quarter. Wealth Alliance’s holdings in AT&T were worth $1,914,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kodai Capital Management LP purchased a new position in AT&T in the fourth quarter worth $152,109,000. Bank of New York Mellon Corp grew its holdings in AT&T by 7.4% in 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 last quarter. Point72 Asset Management L.P. grew its holdings in AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after purchasing an additional 4,970,954 shares during the last quarter. Thornburg Investment Management Inc. grew its holdings in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T in the second quarter worth $78,570,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on T shares. Royal Bank of Canada lifted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note 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. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Finally, Moffett Nathanson lifted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Price Performance

Shares of AT&T stock opened at $21.78 on Wednesday. The firm has a market cap of $156.17 billion, a PE ratio of 11.71, a P/E/G ratio of 3.68 and a beta of 0.59. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. 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 business has a 50-day moving average price of $19.72 and a 200 day moving average price of $18.26.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Sell-side analysts predict 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 given a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.10%. AT&T’s dividend payout ratio (DPR) 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.