Carson Advisory Inc. Has $2.42 Million Holdings in AT&T Inc. (NYSE:T)

Carson Advisory Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,660 shares of the technology company’s stock after selling 3,611 shares during the quarter. AT&T accounts for about 1.7% of Carson Advisory Inc.’s portfolio, making the stock its 13th largest holding. Carson Advisory Inc.’s holdings in AT&T were worth $2,420,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new position in shares of AT&T in the fourth quarter worth $25,000. Pineridge Advisors LLC bought a new position in AT&T in the 4th quarter valued at about $25,000. Strategic Financial Concepts LLC increased its holdings in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC lifted its holdings in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.0 %

NYSE T opened at $21.71 on Wednesday. The firm has a market capitalization of $155.66 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The business’s 50-day moving average price is $19.42 and its two-hundred day moving average price is $18.09. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $21.86.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

Several research analysts have commented on T shares. 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. boosted their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

About AT&T

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.