Dynamic Advisor Solutions LLC Has $3.24 Million Stock Position in AT&T Inc. (NYSE:T)

Dynamic Advisor Solutions LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,670 shares of the technology company’s stock after selling 5,220 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in AT&T were worth $3,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of T. Cantor Fitzgerald Investment Advisors L.P. bought a new position in AT&T in the fourth quarter worth $11,554,000. Provence Wealth Management Group boosted its holdings in AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares in the last quarter. Brighton Jones LLC lifted its position in shares of AT&T by 12.6% during the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after buying an additional 5,161 shares during the period. Finally, Summa Corp. bought a new stake in AT&T in the fourth quarter valued at $395,000. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

NYSE:T opened at $19.44 on Tuesday. The company has a market cap of $139.39 billion, a P/E ratio of 10.45, a P/E/G ratio of 3.23 and a beta of 0.58. The firm’s fifty day moving average price is $18.69 and its two-hundred day moving average price is $17.67. AT&T Inc. has a one year low of $13.92 and a one year high of $19.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on T shares. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays raised their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

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.