RKL Wealth Management LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 1.1% during the second quarter, HoldingsChannel reports. The fund owned 49,562 shares of the technology company’s stock after selling 543 shares during the quarter. RKL Wealth Management LLC’s holdings in AT&T were worth $1,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kavar Capital Partners LLC boosted its stake in shares of AT&T by 3.0% in the 2nd quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after purchasing an additional 2,914 shares during the last quarter. Investment Partners LTD. boosted its stake in AT&T by 36.5% during the second quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock worth $1,114,000 after acquiring an additional 8,892 shares in the last quarter. JGP Wealth Management LLC boosted its stake in AT&T by 2.7% during the second quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock worth $4,363,000 after acquiring an additional 3,373 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in AT&T by 12.8% during the second quarter. Canandaigua National Bank & Trust Co. now owns 156,190 shares of the technology company’s stock worth $5,234,000 after acquiring an additional 17,734 shares in the last quarter. Finally, Nicolet Bankshares Inc. boosted its stake in AT&T by 2.3% during the second quarter. Nicolet Bankshares Inc. now owns 14,970 shares of the technology company’s stock worth $502,000 after acquiring an additional 340 shares in the last quarter. 52.63% of the stock is currently owned by hedge funds and other institutional investors.

T traded up $0.06 during trading on Wednesday, hitting $35.04. 220,165 shares of the company’s stock were exchanged, compared to its average volume of 34,435,740. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $33.95 and its two-hundred day moving average is $31.95. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $35.44. The stock has a market cap of $255.53 billion, a P/E ratio of 9.96, a PEG ratio of 2.19 and a beta of 0.62.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 3.56 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders 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 annualized dividend and a yield of 5.82%. AT&T’s payout ratio is 57.95%.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the transaction, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

Several research analysts recently issued reports on T shares. Raymond James increased their target price on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Desjardins reissued an “average” rating and set a $55.50 target price on shares of AT&T in a research note on Tuesday, August 6th. Bank of America reissued a “buy” rating and set a $37.00 target price on shares of AT&T in a research note on Monday, June 24th. ValuEngine lowered shares of AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley reissued a “buy” rating and set a $37.00 target price on shares of AT&T in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. AT&T presently has a consensus rating of “Buy” and a consensus price target of $36.72.

About AT&T

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

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