Flagship Harbor Advisors LLC Has $2.16 Million Stock Position in AT&T Inc. $T

Flagship Harbor Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 1.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 74,541 shares of the technology company’s stock after selling 1,222 shares during the period. Flagship Harbor Advisors LLC’s holdings in AT&T were worth $2,157,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Daymark Wealth Partners LLC increased its holdings in shares of AT&T by 77.4% in the 2nd quarter. Daymark Wealth Partners LLC now owns 38,290 shares of the technology company’s stock valued at $1,108,000 after purchasing an additional 16,710 shares during the period. Waterfront Wealth Inc. lifted its position in AT&T by 8.8% in the 2nd quarter. Waterfront Wealth Inc. now owns 19,779 shares of the technology company’s stock worth $572,000 after buying an additional 1,601 shares in the last quarter. Mayflower Financial Advisors LLC lifted its position in AT&T by 4.4% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 38,792 shares of the technology company’s stock worth $1,123,000 after buying an additional 1,626 shares in the last quarter. L.M. Kohn & Company lifted its position in AT&T by 5.1% in the 2nd quarter. L.M. Kohn & Company now owns 20,876 shares of the technology company’s stock worth $604,000 after buying an additional 1,013 shares in the last quarter. Finally, Bank of Jackson Hole Trust lifted its position in AT&T by 31.7% in the 2nd quarter. Bank of Jackson Hole Trust now owns 4,054 shares of the technology company’s stock worth $117,000 after buying an additional 975 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 2.2%

Shares of AT&T stock opened at $25.13 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market cap of $179.66 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 2.21 and a beta of 0.42. The company’s fifty day simple moving average is $27.75 and its 200-day simple moving average is $27.74. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. AT&T’s payout ratio is currently 36.04%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on T shares. Sanford C. Bernstein upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Williams Trading set a $33.00 target price on AT&T in a research report on Thursday, October 23rd. TD Cowen increased their price objective on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

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.