Nations Financial Group Inc. IA ADV Reduces Stake in AT&T Inc. (NYSE:T)

Nations Financial Group Inc. IA ADV trimmed its position in shares of AT&T Inc. (NYSE:T) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,371 shares of the technology company’s stock after selling 2,015 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in AT&T were worth $943,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. lifted 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 buying an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new position in shares of AT&T during the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T during the 4th quarter worth about $25,000. American Capital Advisory LLC boosted its position in shares of AT&T by 107.5% in the second 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 last quarter. Finally, First Pacific Financial grew its holdings in 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. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock opened at $19.90 on Friday. The company has a market cap of $142.69 billion, a PE ratio of 10.70, a P/E/G ratio of 3.26 and a beta of 0.58. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $19.99. The company has a fifty day moving average price of $19.11 and a two-hundred day moving average price of $17.86. 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 announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.58%. AT&T’s payout ratio is currently 59.68%.

Analysts Set New Price Targets

T has been the topic of a number of research analyst reports. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Evercore ISI boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report 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 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.