Western Wealth Management LLC Has $2.69 Million Stake in AT&T Inc. (NYSE:T)

Western Wealth Management LLC trimmed its stake in AT&T Inc. (NYSE:T) by 2.4% during the first quarter, HoldingsChannel.com reports. The fund owned 95,143 shares of the technology company’s stock after selling 2,323 shares during the quarter. Western Wealth Management LLC’s holdings in AT&T were worth $2,691,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new position in AT&T in the 4th quarter valued at $27,000. Ball & Co Wealth Management Inc. acquired a new position in AT&T in the fourth quarter worth $30,000. Finally, REAP Financial Group LLC grew its holdings in shares of AT&T by 115.2% during the fourth quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock worth $31,000 after purchasing an additional 727 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. TD Securities upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Barclays raised their price target on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.76.

AT&T Stock Down 1.2%

AT&T stock opened at $27.93 on Thursday. The firm has a market capitalization of $200.97 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 4.01 and a beta of 0.41. The company’s 50 day simple moving average is $27.59 and its 200 day simple moving average is $25.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. AT&T Inc. has a fifty-two week low of $18.14 and a fifty-two week high of $29.03.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.97%. AT&T’s dividend payout ratio is presently 68.10%.

AT&T Profile

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.