AT&T Inc. (NYSE:T) Stock Position Reduced by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,743 shares of the technology company’s stock after selling 644 shares during the period. Mount Yale Investment Advisors LLC’s holdings in AT&T were worth $588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of T. Riggs Asset Managment Co. Inc. raised 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 valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $25,000. Frank Rimerman Advisors LLC bought a new stake in AT&T in the fourth quarter worth $25,000. American Capital Advisory LLC increased its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

NYSE:T opened at $21.48 on Tuesday. 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 company has a 50-day moving average of $19.94 and a 200-day moving average of $18.38. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The company has a market capitalization of $154.02 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 3.79 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business 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 of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.17%. AT&T’s payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Hold” and an average target price of $22.31.

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.