Captrust Financial Advisors Sells 384,318 Shares of AT&T Inc. (NYSE:T)

Captrust Financial Advisors lessened its holdings in shares of AT&T Inc. (NYSE:T) by 12.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,666,231 shares of the technology company’s stock after selling 384,318 shares during the quarter. Captrust Financial Advisors’ holdings in AT&T were worth $46,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in AT&T during the 4th quarter valued at approximately $11,554,000. Provence Wealth Management Group grew its holdings in AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after buying an additional 5,807 shares in the last quarter. Clearbridge Investments LLC grew its holdings in AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares in the last quarter. Retireful LLC purchased a new position in AT&T during the 4th quarter valued at approximately $1,163,000. Finally, Brighton Jones LLC grew its holdings in AT&T by 12.6% during the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.4 %

NYSE T traded up $0.08 on Tuesday, reaching $18.98. 10,277,877 shares of the stock traded hands, compared to its average volume of 36,605,953. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a fifty day moving average price of $18.35 and a 200-day moving average price of $17.49. The company has a market cap of $136.09 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.22 and a beta of 0.58. AT&T Inc. has a 12 month low of $13.89 and a 12 month high of $19.74.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during 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%. AT&T’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen raised their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Scotiabank lifted their target price on AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Evercore ISI lifted their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Company 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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.