Appleton Partners Inc. MA Has $244,000 Stock Holdings in AT&T Inc. (NYSE:T)

Appleton Partners Inc. MA trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 15.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,789 shares of the technology company’s stock after selling 2,381 shares during the period. Appleton Partners Inc. MA’s holdings in AT&T were worth $244,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Bright Futures Wealth Management LLC. acquired a new position in shares of AT&T during the 1st quarter worth about $207,000. Old Port Advisors raised its holdings in shares of AT&T by 10.1% in the 1st quarter. Old Port Advisors now owns 108,875 shares of the technology company’s stock valued at $1,916,000 after purchasing an additional 9,991 shares during the period. Abich Financial Wealth Management LLC raised its holdings in shares of AT&T by 54.6% in the 1st quarter. Abich Financial Wealth Management LLC now owns 9,161 shares of the technology company’s stock valued at $161,000 after purchasing an additional 3,237 shares during the period. Keynote Financial Services LLC bought a new stake in shares of AT&T in the 1st quarter valued at about $1,922,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of AT&T by 59.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 16,930 shares of the technology company’s stock valued at $286,000 after purchasing an additional 6,327 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T traded down $0.10 during mid-day trading on Friday, hitting $19.37. 45,240,116 shares of the company’s stock were exchanged, compared to its average volume of 37,305,292. AT&T Inc. has a 52 week low of $13.89 and a 52 week high of $19.99. The stock’s 50-day simple moving average is $18.49 and its 200-day simple moving average is $17.56. The firm has a market cap of $138.89 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 3.28 and a beta of 0.58. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its earnings results 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 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 period last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.73%. AT&T’s dividend payout ratio is presently 59.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Barclays upped their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

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.