Independent Portfolio Consultants Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,188 shares of the technology company’s stock after selling 5,440 shares during the quarter. Independent Portfolio Consultants Inc.’s holdings in AT&T were worth $1,026,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of T. Hefty Wealth Partners increased its holdings in AT&T by 799.7% during the second quarter. Hefty Wealth Partners now owns 18,416 shares of the technology company’s stock valued at $694,000 after buying an additional 16,369 shares during the period. Private Asset Management Inc. increased its holdings in AT&T by 15.4% during the second quarter. Private Asset Management Inc. now owns 380,861 shares of the technology company’s stock valued at $14,370,000 after buying an additional 50,740 shares during the period. McQueen Ball & Associates Inc. increased its holdings in AT&T by 2.7% during the second quarter. McQueen Ball & Associates Inc. now owns 74,081 shares of the technology company’s stock valued at $2,795,000 after buying an additional 1,970 shares during the period. Bath Savings Trust Co increased its holdings in AT&T by 1.4% during the second quarter. Bath Savings Trust Co now owns 75,633 shares of the technology company’s stock valued at $2,854,000 after buying an additional 1,034 shares during the period. Finally, Park National Corp OH increased its holdings in AT&T by 39.9% during the second quarter. Park National Corp OH now owns 423,260 shares of the technology company’s stock valued at $15,970,000 after buying an additional 120,611 shares during the period. 55.01% of the stock is currently owned by institutional investors and hedge funds.

T has been the topic of several research reports. Zacks Investment Research lowered shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Macquarie reissued a “buy” rating and set a $43.00 price objective on shares of AT&T in a report on Friday, September 1st. ValuEngine lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $42.00 price objective on shares of AT&T in a report on Sunday, July 9th. Finally, Vetr raised shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $41.56 price objective on the stock in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.41.

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AT&T Inc. (NYSE T) traded up 2.15% on Friday, reaching $37.10. 47,942,916 shares of the company were exchanged. The stock has a 50-day moving average price of $37.65 and a 200 day moving average price of $38.92. AT&T Inc. has a 52 week low of $35.10 and a 52 week high of $43.03. The stock has a market capitalization of $227.79 billion, a price-to-earnings ratio of 17.43 and a beta of 0.49.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $39.84 billion. During the same period last year, the firm posted $0.72 EPS. AT&T’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts forecast that AT&T Inc. will post $2.94 earnings per share for the current year.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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