Western Wealth Management LLC Sells 96,151 Shares of AT&T Inc. (NYSE:T)

Western Wealth Management LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 87.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,415 shares of the technology company's stock after selling 96,151 shares during the period. Western Wealth Management LLC's holdings in AT&T were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. lifted its position in AT&T by 1.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 26,161 shares of the technology company's stock valued at $596,000 after purchasing an additional 421 shares during the period. Tradewinds Capital Management LLC raised its stake in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after buying an additional 430 shares in the last quarter. BNP Paribas lifted its holdings in shares of AT&T by 1.0% in the 4th quarter. BNP Paribas now owns 41,716 shares of the technology company's stock valued at $942,000 after buying an additional 430 shares during the period. Whittier Trust Co. boosted its stake in shares of AT&T by 0.7% in the fourth quarter. Whittier Trust Co. now owns 59,394 shares of the technology company's stock valued at $1,352,000 after buying an additional 433 shares in the last quarter. Finally, Wealthstream Advisors Inc. grew its holdings in AT&T by 3.7% during the fourth quarter. Wealthstream Advisors Inc. now owns 12,383 shares of the technology company's stock worth $282,000 after acquiring an additional 444 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on T shares. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Evercore ISI increased their target price on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Scotiabank reiterated an "outperform" rating on shares of AT&T in a report on Thursday, April 24th. Finally, Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.71.

AT&T Stock Up 0.5%

Shares of NYSE T traded up $0.13 during mid-day trading on Wednesday, reaching $27.52. 12,569,598 shares of the company's stock were exchanged, compared to its average volume of 36,703,132. AT&T Inc. has a twelve month low of $17.11 and a twelve month high of $29.03. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $197.99 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 3.00 and a beta of 0.42. The business has a fifty day simple moving average of $27.33 and a 200 day simple moving average of $25.18.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Thursday, April 10th. AT&T's dividend payout ratio is currently 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.