B. Riley Wealth Advisors Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

B. Riley Wealth Advisors Inc. reduced its stake in AT&T Inc. (NYSE:T) by 24.4% during the fourth quarter, HoldingsChannel reports. The firm owned 224,560 shares of the technology company’s stock after selling 72,462 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in AT&T were worth $5,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new stake in AT&T in the fourth quarter valued at approximately $28,000. YANKCOM Partnership purchased a new stake in AT&T in the fourth quarter valued at approximately $30,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after acquiring an additional 430 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on T shares. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Evercore ISI lifted their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Wells Fargo & Company lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Scotiabank reissued an “outperform” rating on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

NYSE:T opened at $27.45 on Monday. The stock has a market cap of $197.50 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm’s fifty day simple moving average is $27.30 and its 200 day simple moving average is $25.13. AT&T Inc. has a twelve month low of $17.11 and a twelve month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. As a group, research analysts predict 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 was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is presently 68.10%.

AT&T Company 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.