Truist Financial Corp Sells 51,728 Shares of AT&T Inc. (NYSE:T)

Truist Financial Corp cut its stake in AT&T Inc. (NYSE:T) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,177,739 shares of the technology company’s stock after selling 51,728 shares during the quarter. Truist Financial Corp owned approximately 0.07% of AT&T worth $98,947,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of T. Riggs Asset Managment Co. Inc. lifted its holdings in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. Pineridge Advisors LLC bought a new position in AT&T during the 4th quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth $25,000. American Capital Advisory LLC boosted its position in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in shares of AT&T in the second quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on T shares. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.38.

AT&T Trading Up 0.6 %

T opened at $22.13 on Wednesday. The company has a market cap of $158.68 billion, a P/E ratio of 11.90, a PEG ratio of 3.75 and a beta of 0.59. 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 company’s 50 day moving average is $20.29 and its 200-day moving average is $18.58. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.63 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.02%. AT&T’s payout ratio is presently 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.