TCI Wealth Advisors Inc. Sells 1,090 Shares of AT&T Inc. (NYSE:T)

TCI Wealth Advisors Inc. cut its stake in shares of AT&T Inc. (NYSE:T) by 1.8% in the second quarter, HoldingsChannel reports. The fund owned 60,640 shares of the technology company’s stock after selling 1,090 shares during the period. AT&T makes up approximately 0.9% of TCI Wealth Advisors Inc.’s holdings, making the stock its 25th largest holding. TCI Wealth Advisors Inc.’s holdings in AT&T were worth $2,032,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. NuWave Investment Management LLC bought a new position in AT&T in the 4th quarter worth approximately $40,000. Contravisory Investment Management Inc. boosted its position in shares of AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after acquiring an additional 338 shares during the last quarter. Smart Portfolios LLC boosted its position in shares of AT&T by 44.8% during the 4th quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after acquiring an additional 500 shares during the last quarter. Centaurus Financial Inc. boosted its position in shares of AT&T by 24.4% during the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after acquiring an additional 333 shares during the last quarter. Finally, Interactive Financial Advisors bought a new position in shares of AT&T during the 1st quarter valued at approximately $56,000. Institutional investors own 52.93% of the company’s stock.

NYSE:T traded up $0.10 during midday trading on Tuesday, hitting $33.59. 315,136 shares of the company traded hands, compared to its average volume of 32,354,234. The firm has a fifty day moving average price of $33.39. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $34.64. The stock has a market cap of $249.38 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 2.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.72.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.04 annualized dividend and a yield of 6.07%. AT&T’s payout ratio is presently 57.95%.

In related news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

T has been the subject of a number of research reports. Morgan Stanley reiterated a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Thursday, August 1st. Bank of America reiterated a “buy” rating and set a $37.00 target price on shares of AT&T in a research report on Monday, June 24th. Cowen increased their target price on AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research report on Thursday, July 25th. Finally, ValuEngine downgraded AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. AT&T has an average rating of “Buy” and an average price target of $36.78.

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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