Global Wealth Management Investment Advisory Inc. Sells 1,125 Shares of AT&T Inc. (NYSE:T)

Global Wealth Management Investment Advisory Inc. lessened its stake in shares of AT&T Inc. (NYSE:T) by 19.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,579 shares of the technology company’s stock after selling 1,125 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in AT&T were worth $77,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Sora Investors LLC bought a new position in AT&T in the 3rd quarter valued at about $11,265,000. Checchi Capital Advisers LLC lifted its position in AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after acquiring an additional 1,178 shares in the last quarter. Retireful LLC bought a new position in AT&T in the 4th quarter valued at about $1,163,000. Terril Brothers Inc. lifted its position in AT&T by 51.6% in the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after acquiring an additional 202,637 shares in the last quarter. Finally, Breakwater Capital Group lifted its position in AT&T by 10.5% in the 4th quarter. Breakwater Capital Group now owns 30,770 shares of the technology company’s stock valued at $517,000 after acquiring an additional 2,927 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup increased their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday, January 19th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Trading Up 0.2 %

Shares of T stock opened at $16.92 on Thursday. The company has a 50 day moving average of $16.96 and a 200-day moving average of $16.62. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The firm has a market cap of $121.03 billion, a P/E ratio of 9.10, a PEG ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the business posted $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.56%. AT&T’s dividend payout ratio is 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.