Marcum Wealth LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Marcum Wealth LLC lowered its holdings in AT&T Inc. (NYSE:T) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,156 shares of the technology company’s stock after selling 1,831 shares during the period. Marcum Wealth LLC’s holdings in AT&T were worth $1,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Corundum Group Inc. raised its stake in AT&T by 2.2% during the first quarter. Corundum Group Inc. now owns 14,753 shares of the technology company’s stock valued at $447,000 after buying an additional 313 shares in the last quarter. Alpha DNA Investment Management LLC raised its stake in AT&T by 11.3% during the first quarter. Alpha DNA Investment Management LLC now owns 3,088 shares of the technology company’s stock valued at $93,000 after buying an additional 314 shares in the last quarter. Halbert Hargrove Global Advisors LLC raised its stake in AT&T by 3.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 11,147 shares of the technology company’s stock valued at $337,000 after buying an additional 320 shares in the last quarter. First National Corp MA ADV raised its stake in AT&T by 1.7% during the first quarter. First National Corp MA ADV now owns 19,283 shares of the technology company’s stock valued at $584,000 after buying an additional 323 shares in the last quarter. Finally, Roble Belko & Company Inc raised its stake in AT&T by 21.7% during the first quarter. Roble Belko & Company Inc now owns 1,824 shares of the technology company’s stock valued at $55,000 after buying an additional 325 shares in the last quarter. 51.61% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on T shares. Morgan Stanley cut AT&T to an “equal weight” rating and set a $29.00 price objective on the stock. in a research note on Friday, July 16th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and increased their price target for the stock from $32.00 to $35.00 in a research report on Friday, May 21st. Royal Bank of Canada initiated coverage on AT&T in a research report on Thursday, July 22nd. They set a “hold” rating and a $30.00 price target on the stock. Argus cut AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target on the stock. in a research report on Tuesday, July 27th. Finally, Redburn Partners started coverage on AT&T in a research report on Friday, June 25th. They issued a “sell” rating and a $23.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.16.

NYSE T traded up $0.17 on Wednesday, reaching $27.50. 369,809 shares of the stock traded hands, compared to its average volume of 40,756,586. The firm’s fifty day simple moving average is $27.86 and its 200 day simple moving average is $29.23. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.87. The company has a market cap of $196.35 billion, a price-to-earnings ratio of -88.16, a P/E/G ratio of 2.11 and a beta of 0.78. AT&T Inc. has a 12 month low of $26.35 and a 12 month high of $33.88.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $44.05 billion during the quarter, compared to analyst estimates of $42.39 billion. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 3.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 7.56%. The ex-dividend date was Thursday, July 8th. AT&T’s dividend payout ratio is presently 65.41%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

Featured Story: What are Bollinger Bands?

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.