Belpointe Asset Management LLC Sells 3,494 Shares of AT&T Inc. $T

Belpointe Asset Management LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 127,674 shares of the technology company’s stock after selling 3,494 shares during the quarter. Belpointe Asset Management LLC’s holdings in AT&T were worth $3,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of T. Stone House Investment Management LLC acquired a new position in shares of AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC raised its holdings in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the last quarter. Kennebec Savings Bank lifted its stake in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Finally, Core Alternative Capital lifted its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on T shares. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Scotiabank lifted their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Barclays reissued an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research report on Wednesday. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Stock Performance

NYSE T opened at $27.06 on Monday. The company has a market capitalization of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. 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 52-week low of $21.05 and a 52-week high of $29.79. The company has a 50-day simple moving average of $28.60 and a 200 day simple moving average of $27.93.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.51 EPS. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.1%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

About AT&T

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.