Vantage Financial Partners LLC Reduces Position in AT&T Inc. (NYSE:T)

Vantage Financial Partners LLC lessened its stake in AT&T Inc. (NYSE:T) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,106 shares of the technology company’s stock after selling 1,504 shares during the period. Vantage Financial Partners LLC’s holdings in AT&T were worth $709,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new stake in AT&T in the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new position in AT&T during the 4th quarter worth $25,000. American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Finally, First Pacific Financial raised its stake in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. UBS Group reiterated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Royal Bank of Canada raised their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Evercore ISI increased their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Stock Down 0.6 %

Shares of T stock opened at $21.38 on Tuesday. The stock’s fifty day moving average price is $19.36 and its 200 day moving average price is $18.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market cap of $153.30 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $21.60.

AT&T (NYSE:T) last posted 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 firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. On average, research analysts expect that AT&T Inc. will post 2.2 earnings per share 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 dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

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.