Weatherly Asset Management L. P. Trims Position in AT&T Inc. (NYSE:T)

Weatherly Asset Management L. P. trimmed its stake in shares of AT&T Inc. (NYSE:T) by 12.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,168 shares of the technology company’s stock after selling 19,239 shares during the period. Weatherly Asset Management L. P.’s holdings in AT&T were worth $2,335,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. JB Capital LLC raised its stake in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after acquiring an additional 614 shares during the last quarter. Schubert & Co raised its stake in AT&T by 2.0% in the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after acquiring an additional 631 shares during the last quarter. Roof Eidam Maycock Peralta LLC raised its stake in AT&T by 6.3% in the 3rd quarter. Roof Eidam Maycock Peralta LLC now owns 11,226 shares of the technology company’s stock worth $169,000 after acquiring an additional 666 shares during the last quarter. Finally, MBM Wealth Consultants LLC raised its stake in AT&T by 4.5% in the 4th quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after acquiring an additional 678 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE:T traded up $0.20 during trading on Tuesday, reaching $16.51. 47,772,969 shares of the company’s stock traded hands, compared to its average volume of 38,895,176. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The firm has a market cap of $118.09 billion, a PE ratio of 8.39, a P/E/G ratio of 2.49 and a beta of 0.57. The company has a 50-day simple moving average of $16.99 and a 200-day simple moving average of $16.53.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same quarter last year, the business earned $0.61 earnings per share. AT&T’s revenue was up 2.2% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Tigress Financial increased their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Barclays increased their price target on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, TheStreet raised AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

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.