Squar Milner Financial Services LLC reduced its stake in AT&T Inc. (NYSE:T) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,326 shares of the technology company’s stock after selling 2,708 shares during the quarter. AT&T comprises 0.6% of Squar Milner Financial Services LLC’s holdings, making the stock its 28th largest holding. Squar Milner Financial Services LLC’s holdings in AT&T were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Interactive Financial Advisors grew its holdings in AT&T by 16.7% during the second quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock worth $70,000 after buying an additional 300 shares in the last quarter. Lenox Wealth Management Inc. grew its stake in AT&T by 6.0% in the 2nd quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after purchasing an additional 308 shares during the period. TCI Wealth Advisors Inc. grew its stake in AT&T by 0.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 62,943 shares of the technology company’s stock valued at $1,796,000 after purchasing an additional 330 shares during the period. Centaurus Financial Inc. grew its stake in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after purchasing an additional 333 shares during the period. Finally, Contravisory Investment Management Inc. grew its stake in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares during the period. 52.93% of the stock is currently owned by institutional investors.
In related news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares of the company’s stock, valued at approximately $80,798.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.07% of the company’s stock.
A number of research analysts have issued reports on T shares. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $37.00 price target on shares of AT&T in a research report on Monday, June 24th. Desjardins reaffirmed an “average” rating and set a $55.50 price target on shares of AT&T in a research report on Tuesday. Morgan Stanley reaffirmed a “buy” rating and set a $37.00 price target on shares of AT&T in a research report on Thursday, August 1st. Finally, ValuEngine cut AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $36.72.
T traded up $0.04 during trading on Thursday, reaching $34.11. 7,303,611 shares of the company were exchanged, compared to its average volume of 32,615,204. The company has a 50-day simple moving average of $33.45. The stock has a market cap of $244.41 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.72 and a current ratio of 0.71. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $34.64.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS. Equities analysts predict that AT&T Inc. will post 3.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.51 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.98%. AT&T’s dividend payout ratio (DPR) is 57.95%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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