Fragasso Financial Advisors Inc Trims Stake in AT&T Inc. (NYSE:T)

Fragasso Financial Advisors Inc lessened its holdings in AT&T Inc. (NYSE:T) by 30.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,469 shares of the technology company’s stock after selling 5,063 shares during the period. Fragasso Financial Advisors Inc’s holdings in AT&T were worth $219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in AT&T during the fourth quarter valued at approximately $11,554,000. Provence Wealth Management Group increased its stake in shares of AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC grew its stake in AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 48,091 shares in the last quarter. Retireful LLC acquired a new position in AT&T in the 4th quarter valued at about $1,163,000. Finally, Brighton Jones LLC lifted its holdings in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after acquiring an additional 5,161 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on T. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

AT&T Price Performance

Shares of AT&T stock traded up $0.27 during trading on Tuesday, reaching $19.18. The company’s stock had a trading volume of 33,770,712 shares, compared to its average volume of 36,924,227. The stock has a 50-day moving average price of $18.52 and a two-hundred day moving average price of $17.59. 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 Inc. has a one year low of $13.89 and a one year high of $19.99. The stock has a market capitalization of $137.53 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company 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%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 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.