AT&T Inc. (NYSE:T) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc lowered its holdings in AT&T Inc. (NYSE:T) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,842 shares of the technology company’s stock after selling 1,358 shares during the period. Capital Investment Counsel Inc’s holdings in AT&T were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of T. Tennessee Valley Asset Management Partners bought a new position in AT&T in the 4th quarter worth about $61,000. HTLF Bank bought a new position in shares of AT&T in the fourth quarter worth $600,000. Resonant Capital Advisors LLC increased its stake in AT&T by 22.4% during the 4th quarter. Resonant Capital Advisors LLC now owns 14,602 shares of the technology company’s stock valued at $245,000 after buying an additional 2,676 shares during the period. Institute for Wealth Management LLC. increased its stake in shares of AT&T by 2.9% during the fourth quarter. Institute for Wealth Management LLC. now owns 45,866 shares of the technology company’s stock valued at $770,000 after acquiring an additional 1,274 shares during the period. Finally, Greenleaf Trust raised its stake in shares of AT&T by 45.8% in the 4th quarter. Greenleaf Trust now owns 135,437 shares of the technology company’s stock worth $2,273,000 after buying an additional 42,547 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on T shares. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Evercore ISI raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Moffett Nathanson boosted their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Stock Performance

NYSE:T remained flat at $19.49 on Tuesday. The company’s stock had a trading volume of 19,694,410 shares, compared to its average volume of 36,183,980. The firm has a 50 day moving average of $18.85 and a two-hundred day moving average of $17.75. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market cap of $139.75 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 3.31 and a beta of 0.58. AT&T Inc. has a 12-month low of $13.92 and a 12-month high of $19.99.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the firm earned $0.63 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.