SignalPoint Asset Management LLC Sells 3,708 Shares of AT&T Inc. (NYSE:T)

SignalPoint Asset Management LLC decreased its holdings in AT&T Inc. (NYSE:T) by 14.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,591 shares of the technology company’s stock after selling 3,708 shares during the period. SignalPoint Asset Management LLC’s holdings in AT&T were worth $344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Twelve Points Wealth Management LLC increased its holdings in AT&T by 2.8% in the 1st quarter. Twelve Points Wealth Management LLC now owns 18,866 shares of the technology company’s stock worth $363,000 after acquiring an additional 512 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its position in AT&T by 5.1% during the first quarter. Capital Advisors Wealth Management LLC now owns 11,071 shares of the technology company’s stock worth $213,000 after buying an additional 542 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in AT&T by 1.2% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after buying an additional 547 shares in the last quarter. Retirement Planning Co of New England Inc. raised its stake in AT&T by 3.2% during the first quarter. Retirement Planning Co of New England Inc. now owns 17,714 shares of the technology company’s stock worth $341,000 after purchasing an additional 554 shares during the period. Finally, SMH Capital Advisors Inc. raised its stake in AT&T by 1.8% during the fourth quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock worth $585,000 after purchasing an additional 565 shares during the period. Institutional investors own 53.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of AT&T from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $17.00 in a research note on Friday, July 14th. Wells Fargo & Company reduced their target price on AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. Deutsche Bank Aktiengesellschaft reduced their target price on AT&T from $23.00 to $22.00 in a research report on Friday, July 14th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price on shares of AT&T in a research report on Thursday, August 3rd. Finally, Moffett Nathanson raised shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price target on the stock in a research note on Tuesday, June 6th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Hold” and an average target price of $20.00.

AT&T Stock Up 0.1 %

T traded up $0.01 during trading hours on Tuesday, hitting $15.10. 4,541,726 shares of the company’s stock were exchanged, compared to its average volume of 38,830,762. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $20.50. The firm has a 50 day moving average of $14.46 and a 200 day moving average of $16.33. The firm has a market cap of $107.95 billion, a P/E ratio of -12.37, a price-to-earnings-growth ratio of 1.87 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The company had revenue of $29.92 billion for the quarter, compared to the consensus estimate of $30.07 billion. During the same quarter in the prior year, the business earned $0.65 EPS. AT&T’s revenue was up .9% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.43 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date of this dividend was Friday, July 7th. AT&T’s dividend payout ratio is presently -90.98%.

AT&T Profile

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.