Global Assets Advisory LLC Sells 7,400 Shares of AT&T Inc. $T

Global Assets Advisory LLC lowered its stake in AT&T Inc. (NYSE:T) by 30.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,289 shares of the technology company’s stock after selling 7,400 shares during the quarter. Global Assets Advisory LLC’s holdings in AT&T were worth $499,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in AT&T in the second quarter valued at about $26,000. Kennebec Savings Bank boosted its stake in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares in the last quarter. Hager Investment Management Services LLC grew its holdings in shares of AT&T by 182.1% during 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 last quarter. Finally, IMA Advisory Services Inc. acquired a new position in shares of AT&T in the first quarter valued at approximately $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.2%

Shares of NYSE T opened at $27.06 on Monday. 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 has a market cap of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The business has a 50-day simple moving average of $28.60 and a two-hundred day simple moving average of $27.93.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is 63.07%.

Analyst Ratings Changes

Several research firms recently commented on T. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Thursday, July 24th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Barclays reaffirmed an “equal weight” rating and set a $30.00 target price on shares of AT&T in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.74.

AT&T Profile

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.