Parcion Private Wealth LLC Has $339,000 Position in AT&T Inc. (NYSE:T)

Parcion Private Wealth LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 17,733 shares of the technology company’s stock after selling 1,310 shares during the quarter. Parcion Private Wealth LLC’s holdings in AT&T were worth $339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Octavia Wealth Advisors LLC boosted its holdings in shares of AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the last quarter. WealthCare Investment Partners LLC boosted its holdings in shares of AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares during the last quarter. Integral Investment Advisors Inc. boosted its holdings in shares of AT&T by 3.2% during the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after purchasing an additional 538 shares during the last quarter. Financial Counselors Inc. boosted its holdings in shares of AT&T by 0.6% during the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 539 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in shares of AT&T by 1.3% during the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after purchasing an additional 559 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 1.5 %

Shares of NYSE:T traded up $0.32 during trading on Friday, reaching $20.97. 53,079,539 shares of the company were exchanged, compared to its average volume of 35,856,078. The firm has a market capitalization of $150.36 billion, a PE ratio of 11.28, a P/E/G ratio of 3.36 and a beta of 0.59. The business’s fifty day simple moving average is $19.31 and its 200-day simple moving average is $18.00. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.00. 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 (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business 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 company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid 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 5.29%. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Ratings Changes

Several analysts have recently issued reports on T shares. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.06.

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.