AT&T Inc. (NYSE:T) Shares Sold by Narwhal Capital Management

Narwhal Capital Management cut its position in shares of AT&T Inc. (NYSE:T) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,600 shares of the technology company’s stock after selling 975 shares during the period. Narwhal Capital Management’s holdings in AT&T were worth $1,024,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Pineridge Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. First Pacific Financial grew its position in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the period. Finally, American Capital Advisory LLC increased its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T opened at $20.99 on Friday. The firm has a 50-day simple moving average of $19.31 and a two-hundred day simple moving average of $18.00. The stock has a market cap of $150.47 billion, a PE ratio of 11.28, a P/E/G ratio of 3.36 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $21.00. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Ratings Changes

A number of brokerages recently weighed in on T. UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Finally, Oppenheimer raised their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.06.

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.