Ashton Thomas Securities LLC Cuts Position in AT&T Inc. $T

Ashton Thomas Securities LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,499 shares of the technology company’s stock after selling 831 shares during the period. Ashton Thomas Securities LLC’s holdings in AT&T were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on T shares. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Bank of America assumed coverage on AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Trading Down 2.1%

Shares of AT&T stock opened at $26.99 on Friday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The business’s fifty day moving average is $28.62 and its two-hundred day moving average is $27.91. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm has a market cap of $192.95 billion, a PE ratio of 15.33, a P/E/G ratio of 3.53 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating 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 firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate 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. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is presently 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.