Abbrea Capital LLC Sells 2,903 Shares of AT&T Inc. (NYSE:T)

Abbrea Capital LLC trimmed its position in AT&T Inc. (NYSE:T) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,755 shares of the technology company’s stock after selling 2,903 shares during the period. Abbrea Capital LLC’s holdings in AT&T were worth $435,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Octavia Wealth Advisors LLC grew its position in shares of AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares during the last quarter. WealthCare Investment Partners LLC grew its position in shares of AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the last quarter. Integral Investment Advisors Inc. grew its position in shares of AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares during the last quarter. Financial Counselors Inc. boosted its position in shares of AT&T by 0.6% during the second 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 in the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of AT&T by 1.3% during the second 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 in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada boosted their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Price Performance

Shares of T stock opened at $21.64 on Friday. AT&T Inc. has a 52-week low of $14.12 and a 52-week 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 firm has a market capitalization of $155.13 billion, a P/E ratio of 11.63, a P/E/G ratio of 3.65 and a beta of 0.59. The stock has a 50 day moving average price of $19.59 and a 200 day moving average price of $18.17.

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, meeting 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 return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, sell-side analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.13%. 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.