WNY Asset Management LLC Trims Holdings in AT&T Inc. (NYSE:T)

WNY Asset Management LLC lessened its stake in AT&T Inc. (NYSE:T) by 39.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,541 shares of the technology company’s stock after selling 53,887 shares during the period. WNY Asset Management LLC’s holdings in AT&T were worth $2,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in shares of 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 acquiring an additional 10,188 shares in the last quarter. Proficio Capital Partners LLC increased its stake in AT&T by 39.7% during the fourth quarter. Proficio Capital Partners LLC now owns 28,782 shares of the technology company’s stock valued at $655,000 after purchasing an additional 8,179 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of AT&T by 1.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 462,211 shares of the technology company’s stock worth $10,487,000 after purchasing an additional 8,428 shares during the period. Whittier Trust Co. lifted its position in shares of AT&T by 0.7% in the 4th quarter. Whittier Trust Co. now owns 59,394 shares of the technology company’s stock worth $1,352,000 after buying an additional 433 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of AT&T by 30.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 99,040 shares of the technology company’s stock worth $2,255,000 after buying an additional 23,081 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on T. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Royal Bank Of Canada increased their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Tigress Financial lifted their price target on AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

AT&T Stock Down 0.3%

T opened at $26.92 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The company has a market capitalization of $193.71 billion, a PE ratio of 16.52, a P/E/G ratio of 3.36 and a beta of 0.42. The stock’s fifty day moving average is $27.74 and its 200-day moving average is $26.47. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 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.