Brighton Jones LLC Sells 2,945 Shares of AT&T Inc. (NYSE:T)

Brighton Jones LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,518 shares of the technology company’s stock after selling 2,945 shares during the period. Brighton Jones LLC’s holdings in AT&T were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cowa LLC grew its stake in shares of AT&T by 70.9% during the 2nd quarter. Cowa LLC now owns 45,760 shares of the technology company’s stock valued at $874,000 after acquiring an additional 18,977 shares during the period. Leuthold Group LLC purchased a new position in AT&T during the second quarter valued at approximately $3,769,000. UP Strategic Wealth Investment Advisors LLC bought a new position in shares of AT&T in the second quarter worth approximately $218,000. WCG Wealth Advisors LLC increased its stake in shares of AT&T by 14.2% in the second quarter. WCG Wealth Advisors LLC now owns 59,838 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 7,438 shares in the last quarter. Finally, Garner Asset Management Corp raised its position in shares of AT&T by 9.4% during the 2nd quarter. Garner Asset Management Corp now owns 143,304 shares of the technology company’s stock valued at $2,739,000 after purchasing an additional 12,329 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $21.52 on Friday. 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 $22.34. The company has a market capitalization of $154.30 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 3.79 and a beta of 0.59. The firm’s 50-day moving average is $19.88 and its 200 day moving average is $18.34.

AT&T (NYSE:T) last announced its quarterly earnings data 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 company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the company posted $0.63 EPS. AT&T’s quarterly revenue was down .3% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

T has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price 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. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Barclays lifted their target price on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Hold” and an average price target of $22.31.

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.