Confluence Wealth Management LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 7,745 shares of the company’s stock after selling 268 shares during the period. Confluence Wealth Management LLC’s holdings in AT&T were worth $335,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC increased its stake in AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock worth $101,000 after buying an additional 1,489 shares during the period. Taylor Wealth Management Partners increased its stake in AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock worth $110,000 after buying an additional 700 shares during the period. WealthTrust Arizona LLC increased its stake in AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock worth $113,000 after buying an additional 300 shares during the period. Invictus RG increased its stake in AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock worth $138,000 after buying an additional 2,560 shares during the period. Finally, JNBA Financial Advisors increased its stake in AT&T by 6.6% in the second quarter. JNBA Financial Advisors now owns 3,852 shares of the company’s stock worth $166,000 after buying an additional 238 shares during the period. 53.64% of the stock is owned by institutional investors and hedge funds.

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

Shares of AT&T Inc. (NYSE:T) traded up 0.3020% during trading on Friday, reaching $39.4889. The company’s stock had a trading volume of 3,382,602 shares. AT&T Inc. has a 12 month low of $32.22 and a 12 month high of $43.89. The company has a market capitalization of $242.94 billion, a P/E ratio of 17.0284 and a beta of 0.30. The company’s 50-day moving average is $40.38 and its 200-day moving average is $40.51.

AT&T (NYSE:T) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.75 billion. AT&T had a net margin of 8.76% and a return on equity of 13.93%. On average, analysts forecast that AT&T Inc. will post $2.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 annualized dividend and a dividend yield of 4.88%. AT&T’s dividend payout ratio is presently 83.12%.

Several equities research analysts have recently weighed in on the company. Vetr downgraded AT&T from a “buy” rating to a “hold” rating and set a $40.78 target price for the company. in a research report on Wednesday. S&P Equity Research set a $46.00 target price on AT&T and gave the stock a “buy” rating in a research report on Sunday, July 24th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Barclays PLC upped their target price on AT&T from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, July 15th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $41.86.

In other news, CEO John T. Stankey sold 2,131 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the transaction, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

About AT&T

AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.

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