Westside Investment Management Inc. Lowers Stock Position in AT&T Inc. (NYSE:T)

Westside Investment Management Inc. lowered its position in AT&T Inc. (NYSE:T) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,062 shares of the technology company’s stock after selling 3,833 shares during the quarter. Westside Investment Management Inc.’s holdings in AT&T were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in AT&T in the 3rd quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. Reston Wealth Management LLC acquired a new position in AT&T during the 3rd quarter worth approximately $35,000. Safe Harbor Fiduciary LLC purchased a new position in AT&T in the 3rd quarter worth approximately $35,000. Finally, Marquette Asset Management LLC acquired a new stake in AT&T in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on T shares. UBS Group lifted their price target on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company lowered their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.83.

AT&T Trading Down 0.7 %

Shares of AT&T stock opened at $22.34 on Thursday. The stock has a market capitalization of $160.30 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $22.80 and a 200 day simple moving average of $21.40.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.97%. AT&T’s payout ratio is 90.24%.

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.