SeaCrest Wealth Management LLC Sells 2,193 Shares of AT&T Inc. (NYSE:T)

SeaCrest Wealth Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 279,798 shares of the technology company’s stock after selling 2,193 shares during the period. AT&T makes up about 1.9% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 3rd largest position. SeaCrest Wealth Management LLC’s holdings in AT&T were worth $9,376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in T. Robeco Institutional Asset Management B.V. raised its holdings in shares of AT&T by 0.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 9,053,942 shares of the technology company’s stock valued at $303,400,000 after purchasing an additional 64,418 shares during the last quarter. Lynch & Associates IN raised its holdings in shares of AT&T by 16.2% in the second quarter. Lynch & Associates IN now owns 72,588 shares of the technology company’s stock valued at $2,432,000 after purchasing an additional 10,143 shares during the last quarter. Focused Wealth Management Inc raised its holdings in shares of AT&T by 12.1% in the second quarter. Focused Wealth Management Inc now owns 40,274 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 4,353 shares during the last quarter. LexAurum Advisors LLC raised its holdings in shares of AT&T by 6.5% in the second quarter. LexAurum Advisors LLC now owns 19,139 shares of the technology company’s stock valued at $641,000 after purchasing an additional 1,172 shares during the last quarter. Finally, Crossvault Capital Management LLC raised its holdings in shares of AT&T by 21.9% in the second quarter. Crossvault Capital Management LLC now owns 117,755 shares of the technology company’s stock valued at $3,946,000 after purchasing an additional 21,142 shares during the last quarter. Hedge funds and other institutional investors own 52.91% of the company’s stock.

NYSE T traded up $0.05 during trading hours on Friday, reaching $34.17. 36,474,488 shares of the company were exchanged, compared to its average volume of 31,755,744. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $34.64. The firm has a 50 day simple moving average of $33.30. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a market cap of $249.01 billion, a PE ratio of 9.71, a P/E/G ratio of 2.14 and a beta of 0.62.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. The firm had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business earned $0.91 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 3.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.97%. AT&T’s dividend payout ratio is presently 57.95%.

T has been the subject of several analyst reports. Morgan Stanley reiterated a “buy” rating and issued a $37.00 target price on shares of AT&T in a report on Thursday. Bank of America restated a “buy” rating and set a $37.00 price objective on shares of AT&T in a report on Monday, June 24th. Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a report on Thursday, July 25th. Raymond James raised their price objective on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, ValuEngine downgraded shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. AT&T has a consensus rating of “Buy” and an average price target of $36.78.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $34.15, for a total transaction of $137,419.60. Following the completion of the transaction, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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