West Wealth Group LLC Reduces Stake in AT&T Inc. (NYSE:T)

West Wealth Group LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,143 shares of the technology company’s stock after selling 1,254 shares during the period. West Wealth Group LLC’s holdings in AT&T were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in AT&T in the 4th quarter valued at approximately $34,000. Reston Wealth Management LLC purchased a new stake in AT&T in the third quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of AT&T in the third quarter valued at $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $22.69 on Monday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The firm has a market capitalization of $162.77 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company’s fifty day moving average price is $22.80 and its 200 day moving average price is $21.48.

AT&T (NYSE:T) last posted its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 7.42%. As a group, sell-side analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Sanford C. Bernstein assumed coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.