Neville Rodie & Shaw Inc. Sells 3,700 Shares of AT&T Inc. $T

Neville Rodie & Shaw Inc. cut its holdings in AT&T Inc. (NYSE:T) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,900 shares of the technology company’s stock after selling 3,700 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in AT&T were worth $1,589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in AT&T in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC bought a new position in AT&T in the first quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in AT&T in the fourth quarter valued at approximately $27,000. Hager Investment Management Services LLC raised its holdings in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the period. Finally, Core Alternative Capital raised its holdings in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.3%

Shares of NYSE:T opened at $29.59 on Friday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $28.31 and its 200 day simple moving average is $27.73. The firm has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. Scotiabank increased their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Raymond James Financial reiterated a “strong-buy” rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Wells Fargo & Company increased their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $30.60.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.