Mascoma Wealth Management LLC Cuts Holdings in AT&T Inc. (NYSE:T)

Mascoma Wealth Management LLC trimmed its holdings in shares of AT&T Inc. (NYSE:TGet Rating) by 15.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,573 shares of the technology company’s stock after selling 653 shares during the quarter. Mascoma Wealth Management LLC’s holdings in AT&T were worth $75,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of T. SWS Partners purchased a new position in AT&T in the first quarter worth $25,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in AT&T in the first quarter worth $27,000. Cordant Inc. purchased a new position in AT&T in the first quarter worth $31,000. Capital Management Associates NY purchased a new position in AT&T in the first quarter worth $34,000. Finally, SBK Financial Inc. purchased a new position in AT&T in the fourth quarter worth $35,000. 52.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the topic of several analyst reports. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday. Raymond James reissued an “outperform” rating and set a $26.00 price objective on shares of AT&T in a report on Thursday, July 7th. Wolfe Research dropped their price objective on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating on the stock in a report on Thursday, June 2nd. Wells Fargo & Company dropped their price objective on shares of AT&T to $22.00 in a report on Friday, July 22nd. Finally, Tigress Financial dropped their price objective on shares of AT&T from $31.00 to $28.00 in a report on Thursday, June 16th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Hold” and an average target price of $23.41.

AT&T Trading Down 0.1 %

NYSE T opened at $16.24 on Friday. The company has a market capitalization of $115.73 billion, a PE ratio of 5.97, a P/E/G ratio of 1.91 and a beta of 0.48. The company has a fifty day moving average of $18.00 and a 200 day moving average of $20.03. AT&T Inc. has a 1 year low of $16.14 and a 1 year high of $21.53. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.64.

AT&T (NYSE:TGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The business had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The company’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Research analysts forecast that AT&T Inc. will post 2.54 earnings per share for the current year.

AT&T Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were given a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.83%. AT&T’s dividend payout ratio (DPR) 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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