B. Riley Wealth Advisors Inc. Sells 16,519 Shares of AT&T Inc. (NYSE:T)

B. Riley Wealth Advisors Inc. cut its position in AT&T Inc. (NYSE:T) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 393,155 shares of the technology company’s stock after selling 16,519 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in AT&T were worth $7,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Regal Investment Advisors LLC boosted its holdings in AT&T by 0.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 376,145 shares of the technology company’s stock worth $7,188,000 after buying an additional 1,259 shares during the period. Second Line Capital LLC lifted its position in shares of AT&T by 41.0% during the second quarter. Second Line Capital LLC now owns 32,115 shares of the technology company’s stock worth $614,000 after acquiring an additional 9,344 shares in the last quarter. Wallace Advisory Group LLC boosted its holdings in shares of AT&T by 8.9% in the second quarter. Wallace Advisory Group LLC now owns 38,929 shares of the technology company’s stock worth $744,000 after acquiring an additional 3,181 shares during the period. William B. Walkup & Associates Inc. purchased a new position in shares of AT&T in the second quarter valued at $665,000. Finally, Sunbelt Securities Inc. grew its position in shares of AT&T by 1.6% in the second quarter. Sunbelt Securities Inc. now owns 177,667 shares of the technology company’s stock valued at $3,395,000 after purchasing an additional 2,744 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.2 %

NYSE:T opened at $21.90 on Monday. The company has a 50-day moving average price of $20.15 and a 200-day moving average price of $18.51. The stock has a market cap of $157.03 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) 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 firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was down .3% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on T shares. Barclays boosted their price objective 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. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada lifted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, AT&T has an average rating of “Hold” and an average target price of $22.38.

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.