AT&T Inc. $T Shares Sold by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. reduced its stake in AT&T by 9.3% in Q2, selling 25,882 shares, which left them with 253,144 shares valued at approximately $7.3 million.
• AT&T reported a quarterly earnings of $0.54 per share, beating analysts' expectations of $0.53, with revenue reaching $30.85 billion.
• Analysts have given AT&T a consensus rating of "Moderate Buy" with a target price of about $30.60, following recent upgrades from multiple financial institutions.

Wesbanco Bank Inc. lessened its stake in AT&T Inc. (NYSE:T - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,144 shares of the technology company's stock after selling 25,882 shares during the quarter. Wesbanco Bank Inc.'s holdings in AT&T were worth $7,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $25,000. Hager Investment Management Services LLC increased its holdings in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of AT&T in the first quarter valued at approximately $29,000. Core Alternative Capital increased its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in AT&T during the fourth quarter worth $25,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Up 0.3%

Shares of NYSE T opened at $29.59 on Friday. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $28.31 and a 200-day simple moving average of $27.73. The stock has a market capitalization of $211.58 billion, a PE ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T's payout ratio is presently 63.07%.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price for the company. JPMorgan Chase & Co. raised their target price on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Scotiabank raised their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and a consensus target price of $30.60.

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.

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