Charter Oak Capital Management LLC Sells 1,488 Shares of AT&T Inc. (NYSE:T)

Charter Oak Capital Management LLC lessened its stake in AT&T Inc. (NYSE:T) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,291 shares of the technology company’s stock after selling 1,488 shares during the quarter. Charter Oak Capital Management LLC’s holdings in AT&T were worth $273,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. WealthCare Investment Partners LLC increased its stake in shares of AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after buying an additional 525 shares during the period. Fortitude Family Office LLC increased its holdings in AT&T by 1.3% during the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after buying an additional 559 shares during the period. Riverview Trust Co raised its stake in AT&T by 4.6% in the second quarter. Riverview Trust Co now owns 13,368 shares of the technology company’s stock worth $255,000 after buying an additional 592 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its holdings in AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after buying an additional 598 shares during the period. Finally, Klingman & Associates LLC boosted its position in AT&T by 3.1% during the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock valued at $350,000 after acquiring an additional 603 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.1 %

NYSE:T traded up $0.20 during trading hours on Friday, hitting $19.72. The company had a trading volume of 21,508,478 shares, compared to its average volume of 35,880,934. AT&T Inc. has a 1 year low of $14.04 and a 1 year high of $19.99. The company has a market cap of $141.36 billion, a P/E ratio of 10.60, a P/E/G ratio of 3.26 and a beta of 0.58. The company has a 50-day moving average of $18.96 and a 200 day moving average of $17.79. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.63%. AT&T’s dividend payout ratio is presently 59.68%.

Analysts Set New Price Targets

A number of research analysts have issued reports on T shares. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. UBS Group reaffirmed a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft increased their price target 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. Royal Bank of Canada lifted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Company 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.