Main Street Group LTD Sells 1,246 Shares of AT&T Inc. (NYSE:T)

Main Street Group LTD trimmed its stake in AT&T Inc. (NYSE:T) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,525 shares of the technology company’s stock after selling 1,246 shares during the period. Main Street Group LTD’s holdings in AT&T were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. lifted its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. Pineridge Advisors LLC bought a new position in shares of AT&T in the 4th quarter worth about $25,000. Frank Rimerman Advisors LLC purchased a new position in AT&T during the 4th quarter valued at about $25,000. American Capital Advisory LLC grew its holdings in AT&T by 107.5% in 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. Finally, First Pacific Financial increased its stake in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Barclays raised their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Stock Performance

Shares of NYSE T traded up $0.32 during midday trading on Friday, hitting $20.97. 53,079,539 shares of the company’s stock traded hands, compared to its average volume of 35,856,078. The firm has a fifty day moving average of $19.31 and a 200 day moving average of $18.00. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $150.36 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 3.36 and a beta of 0.59.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders 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 5.29%. AT&T’s payout ratio is currently 59.68%.

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.