Bard Financial Services Inc. Lowers Stake in AT&T Inc. $T

Bard Financial Services Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,830 shares of the technology company’s stock after selling 1,250 shares during the quarter. Bard Financial Services Inc.’s holdings in AT&T were worth $6,622,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Quintet Private Bank Europe S.A. boosted its position in shares of AT&T by 103.3% in the second quarter. Quintet Private Bank Europe S.A. now owns 930,777 shares of the technology company’s stock worth $26,937,000 after acquiring an additional 473,032 shares during the last quarter. Gradient Investments LLC boosted its position in shares of AT&T by 1,869.1% in the second quarter. Gradient Investments LLC now owns 451,621 shares of the technology company’s stock worth $13,070,000 after acquiring an additional 428,686 shares during the last quarter. Adams Asset Advisors LLC boosted its position in shares of AT&T by 1.1% in the second quarter. Adams Asset Advisors LLC now owns 437,240 shares of the technology company’s stock worth $12,654,000 after acquiring an additional 4,961 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of AT&T by 1.9% in the second quarter. Parallel Advisors LLC now owns 164,326 shares of the technology company’s stock worth $4,756,000 after acquiring an additional 3,139 shares during the last quarter. Finally, Park Edge Advisors LLC boosted its position in shares of AT&T by 28.8% in the second quarter. Park Edge Advisors LLC now owns 45,526 shares of the technology company’s stock worth $1,318,000 after acquiring an additional 10,177 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 0.3%

NYSE T opened at $29.59 on Monday. The company’s fifty day simple moving average is $28.31 and its 200-day simple moving average is $27.74. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market cap of $211.58 billion, a P/E ratio of 16.81, a PEG ratio of 3.68 and a beta of 0.44.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on T shares. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. UBS Group set a $32.00 target price on shares of AT&T in a research report on Thursday, September 4th. Finally, Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.