Newbridge Financial Services Group Inc. Sells 21,481 Shares of AT&T Inc. (NYSE:T)

Newbridge Financial Services Group Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 46.6% in the second quarter, Holdings Channel.com reports. The firm owned 24,573 shares of the technology company’s stock after selling 21,481 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in AT&T were worth $470,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of T. Frank Rimerman Advisors LLC bought a new stake in AT&T in the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC grew its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings 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 valued at $27,000 after buying an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC lifted its position in shares of AT&T by 107.5% in the second 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 owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. TD Cowen boosted their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Citigroup lifted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.38.

AT&T Trading Up 0.6 %

T stock opened at $22.13 on Wednesday. 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 has a market cap of $158.68 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 3.75 and a beta of 0.59. The business’s 50-day moving average is $20.29 and its 200 day moving average is $18.58. 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 analyst estimates of $30.05 billion. During the same quarter last year, the company earned $0.63 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 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.