WNY Asset Management LLC Sells 179,769 Shares of AT&T Inc. (NYSE:T)

WNY Asset Management LLC cut its position in shares of AT&T Inc. (NYSE:T - Free Report) by 56.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,428 shares of the technology company's stock after selling 179,769 shares during the quarter. WNY Asset Management LLC's holdings in AT&T were worth $3,106,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in AT&T during the 4th quarter worth $27,000. Marshall Investment Management LLC bought a new position in shares of AT&T in the 4th quarter valued at $28,000. Tradewinds Capital Management LLC increased its stake in shares of AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after purchasing an additional 430 shares during the last quarter. Finally, YANKCOM Partnership bought a new position in shares of AT&T in the 4th quarter valued at $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 0.1%

Shares of T stock traded down $0.03 during trading hours on Tuesday, reaching $27.39. The company had a trading volume of 33,305,162 shares, compared to its average volume of 36,796,935. AT&T Inc. has a 12 month low of $17.11 and a 12 month 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. The business has a fifty day simple moving average of $27.32 and a 200-day simple moving average of $25.16. The company has a market cap of $197.09 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Thursday, April 10th. AT&T's payout ratio is currently 68.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on T shares. DZ Bank upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research note on Wednesday, January 29th. Williams Trading set a $30.00 price target on AT&T in a research note on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company boosted their price objective on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Scotiabank restated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average target price of $28.71.

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.