Prosperity Consulting Group LLC Has $826,000 Position in AT&T Inc. (NYSE:T)

Prosperity Consulting Group LLC cut its holdings in AT&T Inc. (NYSE:T) by 16.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,225 shares of the technology company’s stock after selling 8,515 shares during the quarter. Prosperity Consulting Group LLC’s holdings in AT&T were worth $826,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vantage Financial Partners LLC lifted its holdings in AT&T by 25.5% in the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock worth $641,000 after purchasing an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in shares of AT&T by 4.1% in the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after buying an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after buying an additional 1,194 shares during the period. Gryphon Financial Partners LLC grew its stake in AT&T by 21.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after buying an additional 4,870 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in AT&T in the 4th quarter worth $207,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.2 %

Shares of T opened at $21.64 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $155.16 billion, a PE ratio of 11.63, a PEG ratio of 3.65 and a beta of 0.59. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $21.86. The stock has a 50 day simple moving average of $19.59 and a 200-day simple moving average of $18.18.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed 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. This represents a $1.11 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on T shares. UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Oppenheimer upped their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

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.