Intrua Financial LLC Sells 2,068 Shares of AT&T Inc. (NYSE:T)

Intrua Financial LLC cut its stake in AT&T Inc. (NYSE:TGet Rating) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,965 shares of the technology company’s stock after selling 2,068 shares during the period. Intrua Financial LLC’s holdings in AT&T were worth $3,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. IFM Investors Pty Ltd boosted its holdings in shares of AT&T by 20.1% in the 1st quarter. IFM Investors Pty Ltd now owns 1,124,683 shares of the technology company’s stock worth $26,576,000 after acquiring an additional 187,921 shares in the last quarter. Axiom Financial Strategies LLC lifted its position in AT&T by 12.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock worth $342,000 after buying an additional 1,941 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in AT&T by 32.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,653,686 shares of the technology company’s stock worth $133,597,000 after acquiring an additional 1,396,509 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of AT&T by 10.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 84,322 shares of the technology company’s stock worth $1,993,000 after acquiring an additional 8,111 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of AT&T by 78.4% during the first quarter. Benjamin Edwards Inc. now owns 8,750 shares of the technology company’s stock worth $207,000 after purchasing an additional 3,846 shares in the last quarter. Institutional investors own 52.88% of the company’s stock.

AT&T Stock Up 0.5 %

Shares of T traded up $0.09 on Thursday, hitting $19.09. The company’s stock had a trading volume of 21,486,024 shares, compared to its average volume of 43,963,416. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $136.05 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 2.15 and a beta of 0.61. The firm’s fifty day moving average price is $17.06 and its 200-day moving average price is $18.60. AT&T Inc. has a fifty-two week low of $14.46 and a fifty-two week high of $21.53.

AT&T (NYSE:TGet Rating) last released its quarterly earnings results on Thursday, October 20th. The technology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $30.04 billion during the quarter, compared to analysts’ expectations of $29.86 billion. AT&T had a net margin of 14.44% and a return on equity of 13.24%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. On average, equities research analysts expect that AT&T Inc. will post 2.64 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. AT&T’s dividend payout ratio (DPR) is 41.11%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, October 21st. Truist Financial upgraded AT&T from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Friday, October 21st. Credit Suisse Group decreased their price target on AT&T from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, October 17th. Royal Bank of Canada dropped their price objective on AT&T from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Friday, October 21st. Finally, Morgan Stanley lowered their price target on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

About AT&T

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

Further Reading

Institutional Ownership by Quarter for AT&T (NYSE:T)

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