Solitude Financial Services Has $1.21 Million Stock Holdings in AT&T Inc. (NYSE:T)

Solitude Financial Services lessened its holdings in shares of AT&T Inc. (NYSE:T) by 5.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 63,410 shares of the technology company’s stock after selling 3,876 shares during the period. AT&T accounts for 0.6% of Solitude Financial Services’ portfolio, making the stock its 15th largest position. Solitude Financial Services’ holdings in AT&T were worth $1,212,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T in the 4th quarter valued at $11,554,000. Provence Wealth Management Group increased its position in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock valued at $272,000 after buying an additional 5,807 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares in the last quarter. Brighton Jones LLC increased its position 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 valued at $776,000 after buying an additional 5,161 shares in the last quarter. Finally, Summa Corp. bought a new position in AT&T during the 4th quarter worth about $395,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T traded up $0.25 on Friday, hitting $19.34. The stock had a trading volume of 24,724,429 shares, compared to its average volume of 37,142,744. The firm has a 50-day moving average of $18.78 and a 200-day moving average of $17.73. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market capitalization of $138.67 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 3.31 and a beta of 0.58. AT&T Inc. has a 52-week low of $13.92 and a 52-week high of $19.99.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.74%. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Barclays increased their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.06.

About AT&T

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.