WNY Asset Management LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

WNY Asset Management LLC decreased its stake in AT&T Inc. (NYSE:T - Free Report) by 56.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,428 shares of the technology company's stock after selling 179,769 shares during the period. WNY Asset Management LLC's holdings in AT&T were worth $3,106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the fourth quarter worth approximately $27,000. Marshall Investment Management LLC bought a new stake in shares of AT&T in the fourth quarter worth approximately $28,000. Tradewinds Capital Management LLC grew its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after acquiring an additional 430 shares during the period. Finally, YANKCOM Partnership purchased a new position in shares of AT&T in the fourth quarter worth approximately $30,000. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company boosted their target price on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Oppenheimer boosted their target price on shares of AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Cowen reiterated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has 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 price target of $28.71.

AT&T Stock Down 0.5%

Shares of T stock traded down $0.14 during mid-day trading on Thursday, hitting $27.37. 12,336,152 shares of the stock traded hands, compared to its average volume of 36,728,491. The stock has a market cap of $196.91 billion, a P/E ratio of 18.36, a P/E/G ratio of 3.00 and a beta of 0.42. The stock's fifty day moving average is $27.34 and its two-hundred day moving average is $25.20. AT&T Inc. has a 52-week low of $17.11 and a 52-week high of $29.03. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. Equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 4.06%. AT&T's dividend payout ratio (DPR) is presently 68.10%.

AT&T Company 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.