Salomon & Ludwin LLC Sells 8,833 Shares of AT&T Inc. (NYSE:T)

Salomon & Ludwin LLC trimmed its stake in shares of AT&T Inc. (NYSE:T) by 57.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 6,645 shares of the technology company’s stock after selling 8,833 shares during the quarter. Salomon & Ludwin LLC’s holdings in AT&T were worth $127,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of T. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in AT&T in the 4th quarter worth about $258,000. Duality Advisers LP acquired a new position in AT&T in the 4th quarter worth about $616,000. Harvest Fund Management Co. Ltd acquired a new position in AT&T in the 4th quarter worth about $120,000. Syon Capital LLC increased its holdings in AT&T by 46.3% in the 4th quarter. Syon Capital LLC now owns 16,652 shares of the technology company’s stock worth $279,000 after purchasing an additional 5,269 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new position in AT&T in the 4th quarter worth about $181,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several recent analyst reports. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Evercore ISI increased their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Barclays lifted their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Trading Up 0.2 %

Shares of T traded up $0.03 during trading hours on Monday, reaching $19.76. 12,177,501 shares of the company traded hands, compared to its average volume of 35,736,555. The stock’s fifty day moving average price is $18.96 and its 200 day moving average price is $17.79. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $141.68 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 3.26 and a beta of 0.58. AT&T Inc. has a 12-month low of $14.11 and a 12-month high of $19.99.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for 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%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.62%. AT&T’s payout ratio is presently 59.68%.

About AT&T

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.