Ballast Advisors LLC reduced its position in AT&T Inc. (NYSE:T) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,545 shares of the technology company’s stock after selling 1,117 shares during the period. Ballast Advisors LLC’s holdings in AT&T were worth $470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lion Street Advisors LLC purchased a new position in AT&T in the 1st quarter worth approximately $27,000. Horan Securities Inc. purchased a new position in AT&T in the 1st quarter worth approximately $28,000. CBIZ Investment Advisory Services LLC raised its holdings in AT&T by 186.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock worth $28,000 after acquiring an additional 623 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in AT&T in the 1st quarter worth approximately $34,000. Finally, Efficient Wealth Management LLC purchased a new position in AT&T in the 1st quarter worth approximately $35,000. Institutional investors own 53.74% of the company’s stock.

In related news, Director Stephen J. Luczo acquired 100,000 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was acquired at an average price of $29.69 per share, with a total value of $2,969,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. Guggenheim decreased their target price on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. DZ Bank lowered shares of AT&T from a “hold” rating to a “sell” rating and set a $26.00 target price for the company. in a research note on Friday, April 24th. Scotiabank boosted their target price on shares of AT&T from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Nomura decreased their target price on shares of AT&T from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Finally, UBS Group decreased their target price on shares of AT&T from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $35.29.

AT&T stock traded up $0.01 during mid-day trading on Friday, hitting $29.58. The stock had a trading volume of 38,694,208 shares, compared to its average volume of 32,539,284. The firm has a market capitalization of $212.40 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.67 and a beta of 0.72. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $30.01 and its 200 day moving average is $32.47. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70.

AT&T (NYSE:T) last issued its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $40.95 billion during the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. AT&T’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 3.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.03%. The ex-dividend date is Thursday, July 9th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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