Wealth Alliance Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Wealth Alliance lessened its stake in shares of AT&T Inc. (NYSE:T) by 10.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 107,255 shares of the technology company’s stock after selling 12,856 shares during the quarter. Wealth Alliance’s holdings in AT&T were worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of T. State Street Corp lifted its holdings in shares of AT&T by 0.5% in the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after buying an additional 1,567,008 shares during the period. Newport Trust Company LLC lifted its holdings in AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after acquiring an additional 673,043 shares during the period. Morgan Stanley boosted its position in shares of AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after purchasing an additional 76,746,649 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of AT&T by 2.5% in the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 1.1 %

Shares of NYSE:T traded down $0.18 during trading on Tuesday, reaching $16.06. The stock had a trading volume of 30,858,401 shares, compared to its average volume of 38,393,629. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The stock has a market cap of $114.87 billion, a P/E ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. The business has a fifty day moving average price of $17.07 and a 200-day moving average price of $16.48. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.92.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

Analysts Set New Price Targets

T has been the topic of a number of research analyst reports. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Friday, January 19th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Citigroup raised their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Barclays raised their price target on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.68.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.