Cooper Financial Group Lowers Holdings in AT&T Inc. (NYSE:T)

Cooper Financial Group trimmed its position in AT&T Inc. (NYSE:T) by 7.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,491 shares of the technology company’s stock after selling 3,190 shares during the period. Cooper Financial Group’s holdings in AT&T were worth $812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of AT&T by 1.3% in the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after buying an additional 559 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of AT&T by 1.7% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after purchasing an additional 598 shares during the last quarter. Klingman & Associates LLC lifted its position in shares of AT&T by 3.1% during the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock worth $350,000 after purchasing an additional 603 shares during the last quarter. Connecticut Wealth Management LLC lifted its position in shares of AT&T by 3.0% during the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after purchasing an additional 620 shares during the last quarter. Finally, AMG National Trust Bank lifted its position in shares of AT&T by 1.0% during the 4th quarter. AMG National Trust Bank now owns 60,064 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 620 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on T shares. JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Barclays upped their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Up 0.1 %

T stock traded up $0.02 during trading hours on Tuesday, reaching $19.45. 8,896,262 shares of the stock were exchanged, compared to its average volume of 36,448,879. The company has a market cap of $139.46 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 3.23 and a beta of 0.58. The firm’s 50-day moving average is $18.69 and its 200-day moving average is $17.67. 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 Inc. has a 12 month low of $13.92 and a 12 month high of $19.99.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company earned $0.63 EPS. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.71%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T 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.