Magnolia Capital Advisors LLC Sells 908 Shares of AT&T Inc. (NYSE:T)

Magnolia Capital Advisors LLC decreased its holdings in AT&T Inc. (NYSE:T) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,131 shares of the technology company’s stock after selling 908 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in AT&T were worth $518,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in T. Doheny Asset Management CA bought a new position in shares of AT&T during the 2nd quarter worth approximately $304,000. Driehaus Capital Management LLC bought a new position in shares of AT&T during the 2nd quarter worth approximately $237,000. MidWestOne Financial Group Inc. lifted its position in shares of AT&T by 1.6% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 225,683 shares of the technology company’s stock worth $4,313,000 after buying an additional 3,536 shares in the last quarter. Kathmere Capital Management LLC bought a new position in shares of AT&T during the 2nd quarter worth approximately $208,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in shares of AT&T by 29.2% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 5,117 shares of the technology company’s stock worth $98,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.4 %

T opened at $21.99 on Tuesday. The company has a fifty day moving average price of $20.21 and a 200-day moving average price of $18.54. The firm has a market capitalization of $157.64 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. 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 Inc. has a one year low of $14.12 and a one year high of $22.34.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.05%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Analyst Ratings Changes

T has been the topic of a number of research reports. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.38.

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.