Certuity LLC Sells 1,960 Shares of AT&T Inc. (NYSE:T)

Certuity LLC decreased its stake in AT&T Inc. (NYSE:T) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 290,444 shares of the technology company’s stock after selling 1,960 shares during the period. Certuity LLC’s holdings in AT&T were worth $5,550,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Pineridge Advisors LLC bought a new stake in AT&T during the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC increased its holdings in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. Finally, First Pacific Financial boosted its stake in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Evercore ISI raised their price objective 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. Royal Bank of Canada upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Nine equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Price Performance

Shares of T opened at $20.97 on Friday. The stock has a market cap of $150.36 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $21.00. The stock’s 50-day moving average price is $19.31 and its two-hundred day moving average price is $18.01. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its quarterly earnings data 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 business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.29%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.