Trade Report: Today: Sheaff Brock Investment Advisors LLC Sold shares of AT&T Inc. (T)

Today: Sheaff Brock Investment Advisors LLC Sold shares of AT&T Inc. (T)

Sheaff Brock Investment Advisors LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 34.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,412 shares of the company’s stock after selling 151,868 shares during the period. AT&T makes up 1.6% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 6th largest position. Sheaff Brock Investment Advisors LLC’s holdings in AT&T were worth $12,246,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bollard Group LLC boosted its position in AT&T by 1.1% in the second quarter. Bollard Group LLC now owns 451,190 shares of the company’s stock worth $19,496,000 after buying an additional 4,776 shares in the last quarter. Aviva PLC boosted its position in AT&T by 5.5% in the first quarter. Aviva PLC now owns 4,540,243 shares of the company’s stock worth $177,841,000 after buying an additional 237,012 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in AT&T by 6.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 811,263 shares of the company’s stock worth $35,055,000 after buying an additional 47,100 shares in the last quarter. Community Trust & Investment Co. boosted its position in AT&T by 1.8% in the second quarter. Community Trust & Investment Co. now owns 516,263 shares of the company’s stock worth $22,307,000 after buying an additional 9,126 shares in the last quarter. Finally, Logan Capital Management Inc. boosted its position in AT&T by 0.3% in the first quarter. Logan Capital Management Inc. now owns 736,564 shares of the company’s stock worth $28,851,000 after buying an additional 2,079 shares in the last quarter. 53.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of AT&T Inc. (NYSE:T) traded down 0.38% during trading on Friday, hitting $39.22. 13,516,996 shares of the stock were exchanged. The stock’s 50 day moving average price is $40.33 and its 200 day moving average price is $40.51. The stock has a market cap of $241.28 billion, a PE ratio of 16.91 and a beta of 0.30. AT&T Inc. has a one year low of $32.22 and a one year high of $43.89.

AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business earned $40.50 billion during the quarter, compared to analysts’ expectations of $40.75 billion. Equities research analysts predict that AT&T Inc. will post $2.86 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Wednesday, October 5th. AT&T’s dividend payout ratio is presently 83.12%.

A number of equities analysts have weighed in on the stock. Vetr cut shares of AT&T from a “buy” rating to a “hold” rating and set a $40.78 price objective for the company. in a research report on Wednesday. S&P Equity Research set a $46.00 target price on shares of AT&T and gave the company a “buy” rating in a research report on Sunday, July 24th. Wells Fargo & Co. reiterated a “buy” rating on shares of AT&T in a research report on Friday, July 22nd. Barclays PLC increased their target price on shares of AT&T from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 15th. Finally, Jefferies Group reiterated a “buy” rating on shares of AT&T in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.86.

In other AT&T news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the transaction, the chief executive officer now owns 13,583 shares in the company, valued at approximately $589,230.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by company insiders.

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