Ausdal Financial Partners Inc. Sells 4,727 Shares of AT&T Inc. (NYSE:T)

Ausdal Financial Partners Inc. lowered its holdings in AT&T Inc. (NYSE:T) by 5.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 81,499 shares of the technology company’s stock after selling 4,727 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in AT&T were worth $1,557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of T. Octavia Wealth Advisors LLC grew its stake in AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares in the last quarter. WealthCare Investment Partners LLC grew its stake in AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares in the last quarter. Integral Investment Advisors Inc. grew its stake in AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares in the last quarter. Financial Counselors Inc. raised its holdings in AT&T by 0.6% during the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after buying an additional 539 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in AT&T by 1.3% during the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after buying an additional 559 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T traded up $0.32 during trading on Friday, reaching $20.97. 53,079,539 shares of the company traded hands, compared to its average volume of 25,035,312. The firm has a 50 day simple moving average of $19.31 and a 200-day simple moving average of $18.01. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $150.36 billion, a PE ratio of 11.27, a P/E/G ratio of 3.47 and a beta of 0.59. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $21.00.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The company 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 firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

A number of research firms recently commented on T. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.06.

About AT&T

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.