AT&T Inc. (NYSE:T) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 20.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,845 shares of the technology company’s stock after selling 2,496 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in AT&T were worth $188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Vanguard Group Inc. raised its stake in shares of AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after buying an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. LSV Asset Management raised its holdings in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. Thornburg Investment Management Inc. lifted its stake in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in AT&T by 9.0% during the second quarter. State of Michigan Retirement System now owns 20,072,613 shares of the technology company’s stock worth $383,588,000 after buying an additional 1,662,100 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.2 %

AT&T stock opened at $21.74 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.70 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’s fifty day simple moving average is $19.78 and its 200-day simple moving average is $18.28. The stock has a market cap of $155.84 billion, a P/E ratio of 11.69, a P/E/G ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” 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 research note on Tuesday, August 6th. Finally, 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 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.31.

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.