Wedbush Securities Inc. Decreases Stake in AT&T Inc. $T

Wedbush Securities Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 17.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,311 shares of the technology company’s stock after selling 35,034 shares during the period. Wedbush Securities Inc.’s holdings in AT&T were worth $4,929,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares in the last quarter. Leavell Investment Management Inc. lifted its holdings in shares of AT&T by 11.6% in the 1st quarter. Leavell Investment Management Inc. now owns 56,467 shares of the technology company’s stock valued at $1,597,000 after acquiring an additional 5,887 shares during the last quarter. Stonebrook Private Inc. grew its position in AT&T by 10.7% in the first quarter. Stonebrook Private Inc. now owns 11,202 shares of the technology company’s stock worth $317,000 after acquiring an additional 1,087 shares in the last quarter. Round Rock Advisors LLC bought a new stake in AT&T during the first quarter worth approximately $264,000. Finally, Telos Capital Management Inc. bought a new stake in AT&T during the first quarter worth approximately $418,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on T shares. TD Cowen raised their price objective on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada lowered their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Barclays dropped their price objective on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.67.

AT&T Trading Up 0.3%

Shares of T opened at $24.81 on Friday. The firm has a market capitalization of $175.85 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40. 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 company has a 50-day moving average of $27.14 and a 200 day moving average of $27.62.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 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.