Quadrant Capital Group LLC lowered its position in AT&T Inc. (NYSE:T – Free Report) by 34.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,850 shares of the technology company’s stock after selling 15,038 shares during the period. Quadrant Capital Group LLC’s holdings in AT&T were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Financial Group LLC raised its stake in shares of AT&T by 159.7% during the first quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock valued at $30,000 after acquiring an additional 960 shares in the last quarter. FWL Investment Management LLC bought a new position in AT&T in the fourth quarter worth approximately $31,000. Sageworth Trust Co bought a new position in AT&T in the first quarter worth approximately $32,000. Grey Fox Wealth Advisors LLC raised its stake in AT&T by 41,000.0% in the first quarter. Grey Fox Wealth Advisors LLC now owns 1,644 shares of the technology company’s stock worth $32,000 after buying an additional 1,640 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in AT&T in the second quarter worth approximately $32,000. Institutional investors own 53.65% of the company’s stock.
Analyst Upgrades and Downgrades
T has been the subject of a number of recent research reports. Scotiabank raised shares of AT&T from a “sector perform” rating to a “sector outperform” rating and set a $18.50 price objective for the company in a research note on Friday, October 20th. Royal Bank of Canada lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Morgan Stanley cut their price target on shares of AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Citigroup lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of AT&T from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, October 12th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.90.
View Our Latest Analysis on T
AT&T Price Performance
Shares of T opened at $15.92 on Friday. The firm has a market capitalization of $113.79 billion, a PE ratio of -10.33, a price-to-earnings-growth ratio of 1.94 and a beta of 0.60. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.69 and a quick ratio of 0.64. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $20.50. The company’s fifty day moving average price is $15.13 and its 200-day moving average price is $15.25.
AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The technology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $30.35 billion for the quarter, compared to the consensus estimate of $30.25 billion. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.44 EPS for the current year.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.97%. The ex-dividend date was Friday, October 6th. AT&T’s dividend payout ratio is currently -72.08%.
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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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