Bcwm LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Bcwm LLC reduced its position in AT&T Inc. (NYSE:T) by 6.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 256,721 shares of the technology company’s stock after selling 18,331 shares during the period. AT&T accounts for about 1.8% of Bcwm LLC’s portfolio, making the stock its 23rd biggest position. Bcwm LLC’s holdings in AT&T were worth $4,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Frank Rimerman Advisors LLC acquired a new position in AT&T during the 4th quarter valued at about $25,000. Pineridge Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter worth about $25,000. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of AT&T by 356.5% in the 2nd 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 last quarter. Finally, American Capital Advisory LLC boosted its stake in AT&T by 107.5% in the 2nd 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. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Oppenheimer raised their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. The Goldman Sachs Group assumed 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

AT&T Stock Up 0.2 %

Shares of T opened at $21.64 on Monday. The stock has a 50 day moving average price of $19.59 and a 200 day moving average price of $18.19. AT&T Inc. has a one year low of $14.12 and a one year high of $21.86. 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 stock has a market capitalization of $155.16 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during 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 revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) 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.