Almanack Investment Partners LLC. Sells 760 Shares of AT&T Inc. $T

Almanack Investment Partners LLC. lowered its stake in shares of AT&T Inc. (NYSE:T) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,942 shares of the technology company’s stock after selling 760 shares during the period. Almanack Investment Partners LLC.’s holdings in AT&T were worth $201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. GAMMA Investing LLC raised its stake in AT&T by 15.5% in the 1st quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company’s stock valued at $4,673,000 after acquiring an additional 22,195 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in AT&T by 9.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,628,232 shares of the technology company’s stock valued at $74,326,000 after acquiring an additional 230,460 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its stake in AT&T by 17.3% in the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 12,127 shares of the technology company’s stock valued at $343,000 after acquiring an additional 1,792 shares during the period. Finally, Abound Wealth Management raised its stake in AT&T by 39.2% in the 1st quarter. Abound Wealth Management now owns 2,080 shares of the technology company’s stock valued at $59,000 after acquiring an additional 586 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on T shares. 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. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. Scotiabank set a $30.25 price target on AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Finally, HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Stock Down 1.2%

T stock opened at $25.57 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $182.80 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.10 and a beta of 0.42. The business’s fifty day moving average price is $28.41 and its two-hundred day moving average price is $27.86. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

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

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

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.