Wesbanco Bank Inc. Sells 18,624 Shares of AT&T Inc. (NYSE:T)

Wesbanco Bank Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 314,050 shares of the technology company’s stock after selling 18,624 shares during the quarter. Wesbanco Bank Inc.’s holdings in AT&T were worth $7,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its stake in shares of AT&T by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,254,967 shares of the technology company’s stock worth $51,346,000 after purchasing an additional 22,342 shares during the last quarter. Marino Stram & Associates LLC grew its stake in shares of AT&T by 4.0% in the fourth quarter. Marino Stram & Associates LLC now owns 13,477 shares of the technology company’s stock worth $307,000 after purchasing an additional 516 shares during the last quarter. Magnus Financial Group LLC grew its stake in shares of AT&T by 32.4% in the fourth quarter. Magnus Financial Group LLC now owns 26,281 shares of the technology company’s stock worth $598,000 after purchasing an additional 6,436 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in shares of AT&T by 4.6% in the fourth quarter. Daymark Wealth Partners LLC now owns 27,784 shares of the technology company’s stock worth $633,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. grew its stake in shares of AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock worth $385,000 after purchasing an additional 460 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Barclays raised their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $28.00 in a report on Monday, December 16th. Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Down 0.7 %

Shares of T stock opened at $22.34 on Thursday. The stock has a market cap of $160.30 billion, a P/E ratio of 18.16, a PEG ratio of 3.53 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.94 and a 52 week 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. The company’s fifty day simple moving average is $22.80 and its two-hundred day simple moving average is $21.40.

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

AT&T Dividend Announcement

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

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.