Castle Rock Wealth Management LLC reduced its holdings in AT&T Inc. (NYSE:T – Free Report) by 10.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,062 shares of the technology company’s stock after selling 2,039 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in AT&T were worth $495,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of T. Brighton Jones LLC lifted its position in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of AT&T by 15.5% in the 1st quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company’s stock worth $4,673,000 after buying an additional 22,195 shares during the last quarter. Simplicity Wealth LLC lifted its position in shares of AT&T by 161.7% in the 1st quarter. Simplicity Wealth LLC now owns 40,674 shares of the technology company’s stock worth $1,150,000 after buying an additional 25,129 shares during the last quarter. Sanibel Captiva Trust Company Inc. lifted its position in shares of AT&T by 1.2% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 99,777 shares of the technology company’s stock worth $2,822,000 after buying an additional 1,157 shares during the last quarter. Finally, Kozak & Associates Inc. lifted its position in shares of AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock worth $126,000 after buying an additional 398 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on T shares. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Bank of America started coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Wells Fargo & Company lifted their price objective 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. Finally, Sanford C. Bernstein lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $30.75.
AT&T Stock Up 0.3%
T stock opened at $26.24 on Thursday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a market capitalization of $187.63 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 3.35 and a beta of 0.42. The firm’s 50-day moving average is $28.51 and its two-hundred day moving average is $27.90. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.
AT&T (NYSE:T – Get Free Report) last released its quarterly 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 company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm earned $0.51 EPS. AT&T’s revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.
AT&T Announces Dividend
The business also recently declared 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 dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is 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.
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