AT&T Inc. (NYSE:T) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC increased its position in AT&T Inc. (NYSE:TGet Rating) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,005 shares of the technology company’s stock after acquiring an additional 3,875 shares during the period. Procyon Advisors LLC’s holdings in AT&T were worth $880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. SWS Partners acquired a new position in AT&T during the first quarter worth about $25,000. KRS Capital Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of AT&T during the first quarter worth about $27,000. Cordant Inc. acquired a new position in shares of AT&T in the first quarter valued at approximately $31,000. Finally, SBK Financial Inc. acquired a new position in shares of AT&T in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 52.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wolfe Research lowered their target price on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. Cowen lowered their price objective on AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, July 22nd. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Tuesday, September 13th. Tigress Financial decreased their price target on AT&T from $31.00 to $28.00 in a research note on Thursday, June 16th. Finally, Raymond James reiterated an “outperform” rating and set a $26.00 price objective on shares of AT&T in a report on Thursday, July 7th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.78.

AT&T Price Performance

T opened at $16.74 on Monday. AT&T Inc. has a twelve month low of $16.55 and a twelve month high of $21.53. The firm has a market cap of $119.29 billion, a price-to-earnings ratio of 6.15, a PEG ratio of 1.97 and a beta of 0.48. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $18.32 and a 200 day simple moving average of $20.21.

AT&T (NYSE:TGet Rating) last announced its earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The company’s revenue was down 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.54 EPS for the current fiscal year.

AT&T Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date was Friday, July 8th. AT&T’s payout ratio is currently 40.81%.

About AT&T

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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

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