MONECO Advisors LLC Has $740,000 Position in AT&T Inc. (NYSE:T)

MONECO Advisors LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,735 shares of the technology company’s stock after selling 1,300 shares during the quarter. MONECO Advisors LLC’s holdings in AT&T were worth $740,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC bought a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. First Pacific Financial raised its stake in shares of AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its stake in shares of AT&T by 58.2% during the 1st quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after purchasing an additional 811 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Moffett Nathanson upped their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday. Finally, StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Nine 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, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Trading Up 0.4 %

Shares of T traded up $0.08 during mid-day trading on Monday, reaching $19.42. 5,270,951 shares of the company were exchanged, compared to its average volume of 36,188,363. AT&T Inc. has a 52 week low of $13.92 and a 52 week high of $19.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $139.25 billion, a PE ratio of 10.44, a PEG ratio of 3.31 and a beta of 0.58. The business has a 50 day simple moving average of $18.78 and a two-hundred day simple moving average of $17.73.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.72%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T Company 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.