AT&T Inc. (NYSE:T) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC lessened its position in AT&T Inc. (NYSE:T) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,021 shares of the technology company’s stock after selling 861 shares during the period. Larson Financial Group LLC’s holdings in AT&T were worth $593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Octavia Wealth Advisors LLC increased its stake in shares of AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares during the last quarter. WealthCare Investment Partners LLC increased its position in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the last quarter. Integral Investment Advisors Inc. raised its holdings in AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after buying an additional 538 shares in the last quarter. Financial Counselors Inc. raised its holdings in AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after buying an additional 539 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its position in shares of AT&T by 1.3% in the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after buying an additional 559 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Barclays lifted their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Stock Performance

Shares of NYSE T opened at $20.66 on Friday. The firm has a market capitalization of $148.10 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.36 and a beta of 0.59. AT&T Inc. has a one year low of $14.12 and a one year high of $20.87. The business has a fifty day simple moving average of $19.27 and a 200 day simple moving average of $17.97. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. Sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.37%. AT&T’s payout ratio is presently 59.68%.

AT&T 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.