Western Wealth Management LLC Trims Stock Holdings in AT&T Inc. (NYSE:T)

Western Wealth Management LLC reduced its stake in AT&T Inc. (NYSE:T) by 2.7% during the 4th quarter, Holdings Channel reports. The fund owned 100,087 shares of the technology company’s stock after selling 2,828 shares during the period. Western Wealth Management LLC’s holdings in AT&T were worth $1,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in AT&T by 1.2% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after buying an additional 547 shares during the period. SMH Capital Advisors Inc. lifted its position in AT&T by 1.8% during the fourth quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock worth $585,000 after buying an additional 565 shares during the period. Kahn Brothers Group Inc. lifted its position in AT&T by 3.4% during the fourth quarter. Kahn Brothers Group Inc. now owns 17,329 shares of the technology company’s stock worth $319,000 after buying an additional 575 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. Finally, JB Capital LLC increased its stake in AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after acquiring an additional 614 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on T. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Tigress Financial upped their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Finally, Citigroup upped their price target on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

AT&T Stock Up 0.3 %

NYSE T traded up $0.05 during mid-day trading on Friday, reaching $16.38. 8,320,802 shares of the company’s stock traded hands, compared to its average volume of 38,054,117. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $17.01 and a 200-day simple moving average of $16.48. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.72. The company has a market cap of $117.16 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 2.43 and a beta of 0.57.

AT&T (NYSE:T) last released its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same period in the prior year, the business earned $0.61 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

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.