Westwood Holdings Group Inc. Sells 6,263 Shares of AT&T Inc. $T

Westwood Holdings Group Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,755 shares of the technology company’s stock after selling 6,263 shares during the period. Westwood Holdings Group Inc.’s holdings in AT&T were worth $4,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stone House Investment Management LLC acquired a new position in shares of AT&T during the 1st quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in AT&T in the second quarter valued at about $26,000. Kennebec Savings Bank raised its stake in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares in the last quarter. Solstein Capital LLC raised its stake in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new position in shares of AT&T in the first quarter worth about $29,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. TD Cowen boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Williams Trading set a $33.00 price target on shares of AT&T in a report on Thursday, October 23rd. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Tuesday, November 11th. Finally, Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $30.64.

AT&T Stock Performance

Shares of AT&T stock opened at $25.62 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The stock has a market cap of $181.65 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 2.16 and a beta of 0.40. The company’s fifty day moving average is $26.75 and its 200 day moving average is $27.56.

AT&T (NYSE:T) last announced 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. The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

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.