Inspirion Wealth Advisors LLC Sells 818 Shares of AT&T Inc. (NYSE:T)

Inspirion Wealth Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,191 shares of the technology company’s stock after selling 818 shares during the period. Inspirion Wealth Advisors LLC’s holdings in AT&T were worth $195,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of AT&T in the fourth quarter worth $1,118,288,000. Thornburg Investment Management Inc. bought a new position in AT&T in the 4th quarter worth about $316,472,000. Kodai Capital Management LP bought a new position in AT&T in the 4th quarter worth about $152,109,000. Point72 Asset Management L.P. raised its holdings in shares of AT&T by 120.8% in 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, Bank of New York Mellon Corp boosted its position in shares of AT&T by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after acquiring an additional 4,014,873 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the subject of a number of research analyst reports. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. TD Cowen lifted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Oppenheimer raised their price objective on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their target price 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. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Up 0.5 %

Shares of T stock traded up $0.09 during midday trading on Friday, reaching $19.49. 22,819,613 shares of the stock were exchanged, compared to its average volume of 39,708,528. AT&T Inc. has a 1 year low of $13.92 and a 1 year high of $19.99. The firm has a market cap of $139.75 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 3.23 and a beta of 0.58. The company’s 50 day moving average is $18.66 and its two-hundred day moving average is $17.65. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.70%. The ex-dividend date was Wednesday, July 10th. 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.