Cultivar Capital Inc. Decreases Stock Holdings in AT&T Inc. $T

Cultivar Capital Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 12.5% in the second quarter, HoldingsChannel.com reports. The fund owned 9,242 shares of the technology company’s stock after selling 1,315 shares during the period. Cultivar Capital Inc.’s holdings in AT&T were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of T. AllSquare Wealth Management LLC increased its position in AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after buying an additional 378 shares during the last quarter. Next Level Private LLC increased its position in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after buying an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc increased its position in AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after buying an additional 380 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after buying an additional 384 shares during the last quarter. Finally, Kozak & Associates Inc. increased its position in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock worth $126,000 after buying an additional 398 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $29.59 on Monday. The stock has a market cap of $211.58 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 3.68 and a beta of 0.44. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock has a fifty day moving average of $28.31 and a 200-day moving average of $27.74. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

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

AT&T Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Finally, Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus 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.