Flynn Zito Capital Management LLC Sells 1,746 Shares of AT&T Inc. (NYSE:T)

Flynn Zito Capital Management LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 6.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,145 shares of the technology company’s stock after selling 1,746 shares during the quarter. Flynn Zito Capital Management LLC’s holdings in AT&T were worth $481,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in T. Octavia Wealth Advisors LLC lifted its position in shares of AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after buying an additional 519 shares during the last quarter. WealthCare Investment Partners LLC lifted its position in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after acquiring an additional 525 shares during the last quarter. Integral Investment Advisors Inc. boosted its stake in AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after acquiring an additional 538 shares in the last quarter. Financial Counselors Inc. grew its holdings in AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after purchasing an additional 539 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of AT&T by 1.3% during the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after purchasing an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $20.99 on Friday. The company has a market capitalization of $150.47 billion, a P/E ratio of 11.28, a P/E/G ratio of 3.36 and a beta of 0.59. The business’s 50-day moving average is $19.31 and its two-hundred day moving average is $18.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $21.00.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

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.