Wulff Hansen & CO. Trims Holdings in AT&T Inc. (NYSE:T)

Wulff Hansen & CO. lowered its stake in shares of AT&T Inc. (NYSE:T) by 8.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,321 shares of the technology company’s stock after selling 995 shares during the period. Wulff Hansen & CO.’s holdings in AT&T were worth $216,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Octavia Wealth Advisors LLC boosted its holdings in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the last quarter. Carolinas Wealth Consulting LLC grew its position in shares of AT&T by 2.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after buying an additional 521 shares in the last quarter. WealthCare Investment Partners LLC increased its stake in shares of AT&T by 2.2% in 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% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after acquiring an additional 538 shares in the last quarter. Finally, Financial Counselors Inc. boosted its stake in AT&T by 0.6% during the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 539 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $21.48 on Tuesday. The stock has a market cap of $154.02 billion, a P/E ratio of 11.55, a P/E/G ratio of 3.79 and a beta of 0.59. The firm’s 50-day simple moving average is $19.94 and its 200 day simple moving average is $18.38. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting 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 during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the prior year, the business posted $0.63 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.17%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group restated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Barclays boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.31.

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.