Western Wealth Management LLC Sells 2,828 Shares of AT&T Inc. (NYSE:T)

Western Wealth Management LLC cut its stake in AT&T Inc. (NYSE:T) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,087 shares of the technology company’s stock after selling 2,828 shares during the quarter. Western Wealth Management LLC’s holdings in AT&T were worth $1,679,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Carmel Capital Partners LLC grew its position in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the period. FWL Investment Management LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $31,000. Financial Freedom LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $34,000. Lipe & Dalton purchased a new stake in shares of AT&T in the 3rd quarter worth about $30,000. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of AT&T in the 3rd quarter worth about $30,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Barclays raised their price target on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Price Performance

Shares of T stock traded up $0.05 on Friday, reaching $16.38. The company’s stock had a trading volume of 8,320,802 shares, compared to its average volume of 38,054,117. The stock’s fifty day simple moving average is $17.01 and its 200-day simple moving average is $16.48. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.72. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $117.16 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $31.44 billion. During the same period last year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.78%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

AT&T Company Profile

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.