Exchange Traded Concepts LLC lowered its holdings in AT&T Inc. (NYSE:T – Free Report) by 10.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,579 shares of the technology company’s stock after selling 3,929 shares during the period. Exchange Traded Concepts LLC’s holdings in AT&T were worth $520,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board bought a new position in AT&T during the 1st quarter valued at $868,000. Baker Boyer National Bank bought a new position in AT&T during the 2nd quarter worth approximately $832,000. Advisory Resource Group lifted its holdings in AT&T by 2.5% during the 2nd quarter. Advisory Resource Group now owns 43,523 shares of the technology company’s stock worth $694,000 after buying an additional 1,043 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in AT&T by 3.0% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 60,593 shares of the technology company’s stock worth $966,000 after buying an additional 1,772 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its position in shares of AT&T by 65.4% in the 2nd quarter. Everhart Financial Group Inc. now owns 23,702 shares of the technology company’s stock worth $378,000 after buying an additional 9,370 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.
AT&T Price Performance
Shares of T opened at $14.45 on Friday. The firm has a market capitalization of $103.30 billion, a price-to-earnings ratio of -11.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.68. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50. The stock’s fifty day moving average is $14.56 and its 200-day moving average is $16.00.
AT&T Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date of this dividend is Friday, October 6th. AT&T’s payout ratio is currently -90.98%.
Analyst Upgrades and Downgrades
T has been the topic of a number of recent research reports. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Deutsche Bank Aktiengesellschaft cut their price target on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Royal Bank of Canada cut their price target on AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, August 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price on shares of AT&T in a research note on Thursday, August 3rd. Finally, Citigroup raised shares of AT&T from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, August 29th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T has an average rating of “Hold” and a consensus target price of $20.00.
AT&T Profile
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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