Chapin Davis Inc. Reduces Holdings in AT&T Inc. (NYSE:T)

Chapin Davis Inc. lowered its position in shares of AT&T Inc. (NYSE:T) by 5.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,319 shares of the technology company’s stock after selling 1,946 shares during the period. Chapin Davis Inc.’s holdings in AT&T were worth $599,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in T. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at $25,000. First Pacific Financial raised its holdings in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in AT&T during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on T. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Oppenheimer boosted 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. TD Cowen raised their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Stock Performance

T traded up $0.25 during trading hours on Friday, hitting $19.34. The company’s stock had a trading volume of 24,724,429 shares, compared to its average volume of 37,142,744. The company has a 50-day simple moving average of $18.78 and a 200 day simple moving average of $17.73. 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 firm has a market capitalization of $138.67 billion, a PE ratio of 10.40, a PEG ratio of 3.31 and a beta of 0.58. AT&T Inc. has a fifty-two week low of $13.92 and a fifty-two week high of $19.99.

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

AT&T Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.74%. AT&T’s dividend payout ratio (DPR) is 59.68%.

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.