WNY Asset Management LLC Trims Stock Position in AT&T Inc. (NYSE:T)

WNY Asset Management LLC lessened its stake in AT&T Inc. (NYSE:T - Free Report) by 39.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,541 shares of the technology company's stock after selling 53,887 shares during the period. WNY Asset Management LLC's holdings in AT&T were worth $2,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of AT&T by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the period. Geode Capital Management LLC raised its stake in AT&T by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock valued at $3,719,723,000 after acquiring an additional 2,640,644 shares during the last quarter. GQG Partners LLC raised its stake in AT&T by 37.3% during the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the last quarter. Norges Bank acquired a new stake in AT&T during the 4th quarter worth approximately $1,858,418,000. Finally, Northern Trust Corp lifted its position in AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after acquiring an additional 10,945,679 shares during the period. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Barclays boosted their target price on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Oppenheimer increased their target price on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, AT&T has an average rating of "Moderate Buy" and a consensus price target of $29.17.

AT&T Stock Performance

Shares of T stock opened at $26.92 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The firm has a market capitalization of $193.71 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42. AT&T Inc. has a one year low of $18.14 and a one year high of $29.19. The company has a 50 day moving average price of $27.74 and a 200 day moving average price of $26.47.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. During the same quarter last year, the business earned $0.55 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is presently 68.10%.

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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