McAdam LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

McAdam LLC lessened its stake in AT&T Inc. (NYSE:T) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,435 shares of the technology company’s stock after selling 2,375 shares during the period. McAdam LLC’s holdings in AT&T were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter valued at $25,000. Pineridge Advisors LLC purchased a new position in AT&T during the 4th quarter worth $25,000. First Pacific Financial increased its position in AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in AT&T in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.1 %

AT&T stock opened at $19.73 on Friday. The business’s 50-day moving average price is $18.96 and its 200 day moving average price is $17.79. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market cap of $141.47 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58. AT&T Inc. has a 52 week low of $14.04 and a 52 week high of $19.99.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared 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 of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.63%. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on T. Oppenheimer upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Company 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.