Wendell David Associates Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Wendell David Associates Inc. reduced its position in AT&T Inc. (NYSE:T) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,747 shares of the technology company’s stock after selling 525 shares during the quarter. Wendell David Associates Inc.’s holdings in AT&T were worth $495,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of AT&T during the third quarter valued at approximately $35,000. Safe Harbor Fiduciary LLC bought a new position in shares of AT&T in the third quarter worth approximately $35,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AT&T in the third quarter worth $36,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of T opened at $22.34 on Thursday. The company has a market cap of $160.30 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 3.53 and a beta of 0.59. The business’s fifty day simple moving average is $22.80 and its two-hundred day simple moving average is $21.40. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.97%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on T shares. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. boosted their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. UBS Group boosted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

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.