Nicola Wealth Management LTD. Decreases Stake in AT&T Inc. $T

Key Points

• Nicola Wealth Management LTD. has decreased its stake in AT&T Inc. by 27.4%, now holding 755,400 shares, worth approximately $21.36 million.
• AT&T reported a quarterly EPS of $0.54, exceeding expectations, and had revenues of $30.85 billion, an increase of 3.4% year-over-year.
• The recent quarterly dividend was declared at $0.2775 per share, providing investors with a yield of 3.8% and a payout ratio of 63.07%.

Nicola Wealth Management LTD. lowered its holdings in AT&T Inc. (NYSE:T - Free Report) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 755,400 shares of the technology company's stock after selling 285,800 shares during the period. AT&T makes up 2.1% of Nicola Wealth Management LTD.'s portfolio, making the stock its 11th biggest position. Nicola Wealth Management LTD.'s holdings in AT&T were worth $21,363,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capstone Wealth Management LLC acquired a new stake in shares of AT&T in the first quarter worth $201,000. Wedmont Private Capital lifted its position in shares of AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock worth $3,302,000 after purchasing an additional 9,027 shares in the last quarter. Xponance Inc. lifted its position in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock worth $31,389,000 after purchasing an additional 102,419 shares in the last quarter. NBT Bank N A NY lifted its position in shares of AT&T by 7.5% during the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock worth $3,660,000 after purchasing an additional 8,989 shares in the last quarter. Finally, Park Edge Advisors LLC acquired a new position in shares of AT&T during the first quarter worth $1,000,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

T stock opened at $29.49 on Friday. 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 firm has a market cap of $210.87 billion, a P/E ratio of 16.76, a P/E/G ratio of 3.63 and a beta of 0.44. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The stock's 50 day simple moving average is $28.28 and its 200 day simple moving average is $27.71.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on T. UBS Group set a $32.00 target price on shares of AT&T in a research report on Thursday, September 4th. Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.60.

About AT&T

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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