Global Assets Advisory LLC Sells 7,400 Shares of AT&T Inc. $T

Global Assets Advisory LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 30.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,289 shares of the technology company’s stock after selling 7,400 shares during the quarter. Global Assets Advisory LLC’s holdings in AT&T were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Vanguard Group Inc. raised its position in AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the 2nd quarter valued at about $5,266,758,000. GQG Partners LLC lifted its position in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after buying an additional 1,783,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after buying an additional 1,307,009 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on T. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Saturday, September 27th. Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Thursday, July 24th. Finally, Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Stock Up 0.2%

NYSE T opened at $27.06 on Monday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The stock has a market capitalization of $193.49 billion, a PE ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business’s 50-day moving average is $28.60 and its 200 day moving average is $27.93.

AT&T (NYSE:T) last released 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. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the business posted $0.51 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

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

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.