Foster & Motley Inc. lessened its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,445 shares of the technology company’s stock after selling 6,186 shares during the quarter. Foster & Motley Inc.’s holdings in AT&T were worth $2,474,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Octavia Wealth Advisors LLC grew its position in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares during the last quarter. WealthCare Investment Partners LLC grew its holdings in shares of AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares during the last quarter. Integral Investment Advisors Inc. raised its position in shares of AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after purchasing an additional 538 shares during the period. Financial Counselors Inc. lifted its holdings in shares of AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 539 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of AT&T by 1.3% in the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after purchasing an additional 559 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.
AT&T Trading Up 0.4 %
NYSE:T opened at $20.66 on Friday. The company has a market capitalization of $148.10 billion, a P/E ratio of 11.10, a P/E/G ratio of 3.36 and a beta of 0.59. The stock’s 50 day moving average price is $19.27 and its 200 day moving average price is $17.97. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $20.87.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.37%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.06.
Check Out Our Latest Stock Analysis on AT&T
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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.
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