Mills Wealth Advisors LLC Decreases Position in AT&T Inc. (NYSE:T)

Mills Wealth Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,593 shares of the technology company’s stock after selling 2,492 shares during the period. Mills Wealth Advisors LLC’s holdings in AT&T were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilkins Investment Counsel Inc. boosted its stake in shares of AT&T by 11.6% during the second quarter. Wilkins Investment Counsel Inc. now owns 18,650 shares of the technology company’s stock valued at $356,000 after purchasing an additional 1,939 shares during the period. Williams Financial LLC purchased a new stake in AT&T during the 2nd quarter valued at $4,837,000. Alta Advisers Ltd grew its holdings in AT&T by 10.9% in the 2nd quarter. Alta Advisers Ltd now owns 21,300 shares of the technology company’s stock worth $407,000 after acquiring an additional 2,100 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of AT&T by 13.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,639,418 shares of the technology company’s stock valued at $31,329,000 after acquiring an additional 192,669 shares during the period. Finally, Stolper Co raised its stake in shares of AT&T by 0.5% during the second quarter. Stolper Co now owns 125,518 shares of the technology company’s stock valued at $2,399,000 after acquiring an additional 673 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $21.64 on Friday. The business has a fifty day moving average price of $19.59 and a 200-day moving average price of $18.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market capitalization of $155.16 billion, a PE ratio of 11.63, a PEG ratio of 3.65 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $21.86.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during 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%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. As a group, equities analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.13%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.31.

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.