Signature Wealth Management Partners LLC Has $1.31 Million Position in AT&T Inc. (NYSE:T)

Signature Wealth Management Partners LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,605 shares of the technology company’s stock after selling 567 shares during the quarter. AT&T makes up 1.0% of Signature Wealth Management Partners LLC’s holdings, making the stock its 20th biggest holding. Signature Wealth Management Partners LLC’s holdings in AT&T were worth $1,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. S. R. Schill & Associates raised its position in AT&T by 87.5% during the 2nd quarter. S. R. Schill & Associates now owns 42,418 shares of the technology company’s stock worth $811,000 after purchasing an additional 19,800 shares during the last quarter. Bridge Creek Capital Management LLC raised its position in shares of AT&T by 3.1% during the second quarter. Bridge Creek Capital Management LLC now owns 159,118 shares of the technology company’s stock worth $3,041,000 after acquiring an additional 4,787 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of AT&T in the second quarter worth approximately $1,489,000. RFG Advisory LLC boosted its holdings in AT&T by 2.6% in the second quarter. RFG Advisory LLC now owns 74,612 shares of the technology company’s stock valued at $1,426,000 after acquiring an additional 1,882 shares during the last quarter. Finally, Verum Partners LLC increased its position in AT&T by 12.3% during the 2nd quarter. Verum Partners LLC now owns 13,149 shares of the technology company’s stock valued at $251,000 after purchasing an additional 1,437 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on T. Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note 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. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Finally, Oppenheimer lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Stock Performance

T traded down $0.06 during trading on Monday, hitting $19.43. 22,393,723 shares of the company traded hands, compared to its average volume of 36,626,531. AT&T Inc. has a one year low of $13.92 and a one year high of $19.99. The stock’s fifty day moving average is $18.69 and its 200 day moving average is $17.67. 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 firm has a market cap of $139.32 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 3.23 and a beta of 0.58.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.71%. AT&T’s dividend payout ratio is 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.