SYSTM Wealth Solutions LLC Sells 2,496 Shares of AT&T Inc. (NYSE:T)

SYSTM Wealth Solutions LLC decreased its position in AT&T Inc. (NYSE:T) by 20.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,845 shares of the technology company’s stock after selling 2,496 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in AT&T were worth $188,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC bought a new position in AT&T in the 4th quarter worth $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T in the fourth quarter worth about $25,000. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Finally, American Capital Advisory LLC grew its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during 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 weighed in on the company. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday. Finally, Oppenheimer raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.31.

AT&T Stock Down 0.2 %

NYSE T opened at $21.74 on Thursday. 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 Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The stock has a market capitalization of $155.84 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The stock has a fifty day moving average of $19.78 and a 200-day moving average of $18.28.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced 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. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend 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.