Park Avenue Securities LLC Sells 9,923 Shares of AT&T Inc. (NYSE:T)

Park Avenue Securities LLC cut its stake in AT&T Inc. (NYSE:T) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,114 shares of the technology company’s stock after selling 9,923 shares during the quarter. Park Avenue Securities LLC’s holdings in AT&T were worth $4,971,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Kingswood Wealth Advisors LLC increased its position in AT&T by 11.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 122,678 shares of the technology company’s stock worth $2,344,000 after acquiring an additional 13,032 shares during the period. Olistico Wealth LLC bought a new position in AT&T during the second quarter worth about $101,000. Sage Capital Advisors llc increased its position in AT&T by 1.1% during the second quarter. Sage Capital Advisors llc now owns 195,569 shares of the technology company’s stock worth $3,737,000 after acquiring an additional 2,157 shares during the period. Lynx Investment Advisory bought a new position in AT&T during the second quarter worth about $55,000. Finally, Mather Group LLC. increased its position in AT&T by 151.8% during the second quarter. Mather Group LLC. now owns 48,059 shares of the technology company’s stock worth $846,000 after acquiring an additional 28,970 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of analyst reports. Barclays increased their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased 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. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Trading Up 0.4 %

AT&T stock traded up $0.07 during mid-day trading on Wednesday, hitting $19.26. 30,030,497 shares of the stock were exchanged, compared to its average volume of 36,880,578. The firm’s fifty day simple moving average is $18.56 and its two-hundred day simple moving average is $17.60. The stock has a market capitalization of $138.10 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 3.26 and a beta of 0.58. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $13.92 and a 12 month high of $19.99.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. Analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.76%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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