WNY Asset Management LLC Sells 15,449 Shares of AT&T Inc. $T

WNY Asset Management LLC lowered its holdings in shares of AT&T Inc. (NYSE:T) by 18.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,092 shares of the technology company’s stock after selling 15,449 shares during the quarter. WNY Asset Management LLC’s holdings in AT&T were worth $1,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of T. Kingstone Capital Partners Texas LLC bought a new position in AT&T during the second quarter valued at $5,266,758,000. Nuveen LLC bought a new position in AT&T during the first quarter valued at $1,072,128,000. GQG Partners LLC increased its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. UBS Group restated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Up 0.7%

Shares of AT&T stock opened at $25.71 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The firm’s 50-day moving average is $27.83 and its two-hundred day moving average is $27.75. The stock has a market cap of $183.80 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 2.07 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

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.