Shelton Capital Management Sells 161,361 Shares of AT&T Inc. $T

Shelton Capital Management reduced its position in AT&T Inc. (NYSE:T) by 26.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 457,626 shares of the technology company’s stock after selling 161,361 shares during the quarter. Shelton Capital Management’s holdings in AT&T were worth $13,244,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. J. L. Bainbridge & Co. Inc. increased its position in shares of AT&T by 1.7% during the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock valued at $615,000 after purchasing an additional 355 shares during the last quarter. Roberts Glore & Co. Inc. IL increased its position in shares of AT&T by 2.0% in the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after acquiring an additional 357 shares during the period. Investment Partners LTD. raised its position in AT&T by 3.5% during the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after purchasing an additional 357 shares during the last quarter. Parcion Private Wealth LLC lifted its stake in AT&T by 2.5% in the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after acquiring an additional 364 shares during the period. Finally, Texas Bank & Trust Co lifted its position in shares of AT&T by 0.6% in the 2nd quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock worth $1,860,000 after purchasing an additional 364 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on T. 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. TD Cowen upped their price objective on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Sanford C. Bernstein lifted 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. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, Barclays dropped their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.64.

AT&T Stock Up 0.7%

NYSE T opened at $25.99 on Monday. The stock’s 50 day moving average is $26.02 and its 200 day moving average is $27.43. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The stock has a market cap of $184.25 billion, a PE ratio of 8.44, a P/E/G ratio of 2.16 and a beta of 0.40. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

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.