Beaton Management Co. Inc. Sells 1,435 Shares of AT&T Inc. (NYSE:T)

Beaton Management Co. Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,319 shares of the technology company’s stock after selling 1,435 shares during the period. Beaton Management Co. Inc.’s holdings in AT&T were worth $962,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vantage Financial Partners LLC increased its position in AT&T by 25.5% in the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after acquiring an additional 7,762 shares during the period. Gilbert & Cook Inc. boosted its stake in AT&T by 4.1% during the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after acquiring an additional 1,212 shares in the last quarter. Aveo Capital Partners LLC boosted its position in shares of AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after purchasing an additional 1,194 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in AT&T by 21.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after purchasing an additional 4,870 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in AT&T by 7.8% during the fourth quarter. Brown Advisory Inc. now owns 242,324 shares of the technology company’s stock worth $4,066,000 after buying an additional 17,601 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 1.7 %

Shares of T opened at $21.35 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average is $19.82 and its two-hundred day moving average is $18.30. The firm has a market cap of $153.08 billion, a P/E ratio of 11.48, a PEG ratio of 3.79 and a beta of 0.59. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday. Finally, UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.31.

About AT&T

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.