Keudell Morrison Wealth Management Sells 9,696 Shares of AT&T Inc. $T

Keudell Morrison Wealth Management cut its position in AT&T Inc. (NYSE:T) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,963 shares of the technology company’s stock after selling 9,696 shares during the quarter. Keudell Morrison Wealth Management’s holdings in AT&T were worth $2,169,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of T. Kingstone Capital Partners Texas LLC bought a new position in AT&T in the second quarter valued at about $5,266,758,000. Nuveen LLC bought a new position in shares of AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC raised its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.2%

Shares of T stock opened at $27.06 on Friday. The company has a market cap of $193.49 billion, a P/E ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. The stock has a 50 day simple moving average of $28.60 and a two-hundred day simple moving average of $27.92. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is presently 63.07%.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. UBS Group set a $33.00 price objective on AT&T in a research report on Thursday, September 18th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

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.