Gryphon Financial Partners LLC Cuts Stock Position in AT&T Inc. (NYSE:T)

Gryphon Financial Partners LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,696 shares of the technology company’s stock after selling 920 shares during the quarter. Gryphon Financial Partners LLC’s holdings in AT&T were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van Hulzen Asset Management LLC purchased a new stake in AT&T in the 2nd quarter valued at approximately $273,000. Daiwa Securities Group Inc. grew its holdings in AT&T by 8.0% during the second quarter. Daiwa Securities Group Inc. now owns 804,059 shares of the technology company’s stock worth $15,366,000 after acquiring an additional 59,854 shares during the period. Beam Wealth Advisors Inc. raised its position in AT&T by 85.9% in the second quarter. Beam Wealth Advisors Inc. now owns 49,137 shares of the technology company’s stock worth $939,000 after acquiring an additional 22,700 shares in the last quarter. First Interstate Bank lifted its holdings in AT&T by 24.0% in the second quarter. First Interstate Bank now owns 33,726 shares of the technology company’s stock valued at $645,000 after acquiring an additional 6,522 shares during the period. Finally, Doheny Asset Management CA purchased a new stake in shares of AT&T during the 2nd quarter worth $304,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada raised 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. Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Oppenheimer lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Trading Up 1.0 %

Shares of T opened at $21.71 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $19.42 and a 200-day simple moving average of $18.09. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $21.86. The stock has a market cap of $155.66 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.11%. AT&T’s payout ratio is currently 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.