IFP Advisors Inc Sells 1,350 Shares of AT&T Inc. $T

IFP Advisors Inc cut its stake in shares of AT&T Inc. (NYSE:T) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,465 shares of the technology company’s stock after selling 1,350 shares during the quarter. IFP Advisors Inc’s holdings in AT&T were worth $8,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC bought a new stake in AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T in the 2nd quarter worth approximately $26,000. Kennebec Savings Bank lifted its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the last quarter. Hager Investment Management Services LLC lifted its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T in the 1st quarter worth approximately $29,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Down 0.5%

Shares of NYSE T opened at $26.12 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm’s fifty day moving average is $28.49 and its 200 day moving average is $27.89. The company has a market cap of $186.77 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 3.36 and a beta of 0.42.

AT&T (NYSE:T) last issued 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 net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Scotiabank set a $30.25 price objective on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday. Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their price objective 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 analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Company 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.