Advisor Resource Council Sells 39,825 Shares of AT&T Inc. (NYSE:T)

Advisor Resource Council cut its position in AT&T Inc. (NYSE:T) by 72.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,301 shares of the technology company’s stock after selling 39,825 shares during the quarter. Advisor Resource Council’s holdings in AT&T were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Lido Advisors LLC increased its holdings in shares of AT&T by 3.4% in the 3rd quarter. Lido Advisors LLC now owns 313,247 shares of the technology company’s stock worth $4,705,000 after buying an additional 10,287 shares during the last quarter. Legacy Advisors LLC bought a new position in AT&T in the third quarter valued at $421,000. Lowe Brockenbrough & Co. Inc. raised its position in AT&T by 4.8% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 44,536 shares of the technology company’s stock valued at $669,000 after purchasing an additional 2,038 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in AT&T by 67.4% during the third quarter. Lake Street Advisors Group LLC now owns 73,302 shares of the technology company’s stock worth $1,101,000 after purchasing an additional 29,520 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in AT&T by 9.5% during the third quarter. Sei Investments Co. now owns 1,980,910 shares of the technology company’s stock worth $29,756,000 after purchasing an additional 172,079 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 0.7 %

Shares of NYSE T opened at $18.68 on Friday. The firm’s 50 day moving average price is $17.71 and its 200-day moving average price is $17.22. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company has a market cap of $133.94 billion, a PE ratio of 10.04, a P/E/G ratio of 4.24 and a beta of 0.58.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $21.00 price objective on shares of AT&T in a report on Tuesday, June 25th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, The Goldman Sachs Group assumed coverage on AT&T in a research note on Monday. They set a “buy” rating and a $22.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.73.

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.