Mark Sheptoff Financial Planning LLC Trims Stock Position in AT&T Inc. (NYSE:T)

Mark Sheptoff Financial Planning LLC decreased its stake in AT&T Inc. (NYSE:T) by 45.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,292 shares of the technology company’s stock after selling 11,288 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in AT&T were worth $254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Mercer Global Advisors Inc. ADV lifted its stake in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares in the last quarter. Kodai Capital Management LP purchased a new position in shares of AT&T in the fourth quarter worth about $152,109,000. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% during the second 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 acquiring an additional 5,592,123 shares during the last quarter. Point72 Asset Management L.P. grew its stake in AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after acquiring an additional 4,970,954 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its holdings in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on T shares. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. TD Cowen upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.31.

AT&T Stock Performance

NYSE:T opened at $21.74 on Thursday. 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 12 month low of $14.12 and a 12 month high of $22.34. The firm has a market capitalization of $155.84 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The business’s fifty day moving average price is $19.78 and its 200 day moving average price is $18.28.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting 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 net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

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.