Richardson Financial Services Inc. Sells 1,693 Shares of AT&T Inc. (NYSE:T)

Richardson Financial Services Inc. trimmed its position in AT&T Inc. (NYSE:T) by 11.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,109 shares of the technology company’s stock after selling 1,693 shares during the period. Richardson Financial Services Inc.’s holdings in AT&T were worth $251,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. Pineridge Advisors LLC bought a new stake in AT&T during the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new stake in AT&T during the fourth quarter valued at about $25,000. American Capital Advisory LLC increased its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI increased 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 raised their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Barclays upped 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, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Hold” and an average target price of $22.31.

AT&T Trading Down 0.2 %

T stock opened at $21.74 on Thursday. The firm has a fifty day moving average price of $19.78 and a 200 day moving average price of $18.28. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The firm has a market cap of $155.84 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. AT&T’s revenue was down .3% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.11%. AT&T’s payout ratio is currently 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.