Seven Mile Advisory Has $214,000 Stock Holdings in AT&T Inc. (NYSE:T)

Seven Mile Advisory decreased its stake in shares of AT&T Inc. (NYSE:T) by 23.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,191 shares of the technology company’s stock after selling 3,344 shares during the quarter. Seven Mile Advisory’s holdings in AT&T were worth $214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Frank Rimerman Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth about $25,000. Strategic Financial Concepts LLC raised its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

Shares of NYSE T opened at $21.64 on Friday. The stock has a market capitalization of $155.16 billion, a P/E ratio of 11.63, a PEG ratio of 3.65 and a beta of 0.59. The stock’s fifty day moving average is $19.59 and its 200 day moving average is $18.18. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $21.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.13%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several analysts have issued reports on T shares. UBS Group restated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Citigroup raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.31.

About AT&T

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.