Evermay Wealth Management LLC Reduces Position in AT&T Inc. (NYSE:T)

Evermay Wealth Management LLC decreased its position in AT&T Inc. (NYSE:T) by 30.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,208 shares of the technology company’s stock after selling 6,211 shares during the period. Evermay Wealth Management LLC’s holdings in AT&T were worth $456,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in T. CKW Financial Group lifted its position in AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after buying an additional 2,159 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in AT&T in the first quarter worth $137,000. Elmwood Wealth Management Inc. bought a new stake in AT&T in the first quarter worth $178,000. Cerebellum GP LLC bought a new stake in AT&T in the second quarter worth $178,000. Finally, Bristol John W & Co. Inc. NY bought a new stake in AT&T in the first quarter worth $201,000. Institutional investors own 63.84% of the company’s stock.

T traded up $0.35 on Thursday, hitting $29.77. The company had a trading volume of 30,303,426 shares, compared to its average volume of 42,884,772. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $180.61 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 2.35 and a beta of 0.42. AT&T Inc. has a 12-month low of $28.85 and a 12-month high of $39.33.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.04). The business had revenue of $45.74 billion during the quarter, compared to analyst estimates of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. AT&T’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 3.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.72%. The ex-dividend date was Tuesday, October 9th. AT&T’s dividend payout ratio is presently 65.57%.

In other AT&T news, Director Michael B. Mccallister purchased 4,000 shares of the stock in a transaction on Friday, October 26th. The stock was acquired at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, the director now owns 7,361 shares in the company, valued at $214,499.54. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by company insiders.

A number of analysts have weighed in on the company. Argus reiterated a “buy” rating and issued a $48.00 target price on shares of AT&T in a research note on Friday, October 26th. Deutsche Bank increased their target price on AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, September 24th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. Finally, Zacks Investment Research lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $36.35.

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AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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

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