Westside Investment Management Inc. Sells 1,200 Shares of AT&T Inc. (NYSE:T)

Westside Investment Management Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 11.9% in the third quarter, HoldingsChannel.com reports. The fund owned 8,895 shares of the technology company’s stock after selling 1,200 shares during the period. Westside Investment Management Inc.’s holdings in AT&T were worth $184,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Passumpsic Savings Bank boosted its stake in AT&T by 12.2% in the third quarter. Passumpsic Savings Bank now owns 17,369 shares of the technology company’s stock valued at $382,000 after buying an additional 1,893 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of AT&T by 1.1% in the third quarter. M&T Bank Corp now owns 1,053,591 shares of the technology company’s stock worth $23,178,000 after acquiring an additional 11,895 shares during the last quarter. Second Line Capital LLC boosted its stake in shares of AT&T by 39.7% in the 3rd quarter. Second Line Capital LLC now owns 44,880 shares of the technology company’s stock valued at $987,000 after purchasing an additional 12,765 shares in the last quarter. TCW Group Inc. grew its holdings in shares of AT&T by 518.9% during the 3rd quarter. TCW Group Inc. now owns 989,888 shares of the technology company’s stock valued at $21,778,000 after purchasing an additional 829,950 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its position in AT&T by 23.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 15,504 shares of the technology company’s stock worth $341,000 after purchasing an additional 2,941 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Sanford C. Bernstein initiated coverage on AT&T in a research report on Tuesday. They set an “outperform” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer initiated coverage on AT&T in a report on Tuesday. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Moffett Nathanson raised their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

AT&T Price Performance

Shares of NYSE T opened at $23.36 on Friday. The stock’s 50-day simple moving average is $22.44 and its two-hundred day simple moving average is $20.49. The firm has a market capitalization of $167.61 billion, a P/E ratio of 18.99, a P/E/G ratio of 3.57 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.75%. AT&T’s payout ratio is 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.