Wesbanco Bank Inc. Cuts Holdings in AT&T Inc. (NYSE:T)

Wesbanco Bank Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 11.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 279,026 shares of the technology company’s stock after selling 35,024 shares during the period. Wesbanco Bank Inc.’s holdings in AT&T were worth $7,891,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in AT&T during the 4th quarter worth approximately $96,000. Appleton Partners Inc. MA raised its stake in AT&T by 42.7% during the 4th quarter. Appleton Partners Inc. MA now owns 18,278 shares of the technology company’s stock worth $416,000 after acquiring an additional 5,468 shares during the period. Vest Financial LLC raised its stake in AT&T by 20.3% during the 4th quarter. Vest Financial LLC now owns 80,656 shares of the technology company’s stock worth $1,837,000 after acquiring an additional 13,611 shares during the period. Finally, Seelaus Asset Management LLC raised its position in shares of AT&T by 9.3% during the fourth quarter. Seelaus Asset Management LLC now owns 34,922 shares of the technology company’s stock valued at $795,000 after buying an additional 2,975 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T opened at $28.09 on Monday. AT&T Inc. has a 52-week low of $17.42 and a 52-week 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. The company has a market cap of $202.12 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. The firm’s 50-day moving average price is $27.32 and its 200-day moving average price is $25.49.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.95%. AT&T’s dividend payout ratio is presently 68.10%.

Analyst Ratings Changes

T has been the topic of several recent analyst reports. Oppenheimer lifted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. TD Securities lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “hold” 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 target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Tigress Financial lifted their price objective on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

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.