WNY Asset Management LLC Decreases Stock Holdings in AT&T Inc. $T

WNY Asset Management LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,092 shares of the technology company’s stock after selling 15,449 shares during the quarter. WNY Asset Management LLC’s holdings in AT&T were worth $1,942,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T in the 2nd quarter valued at approximately $26,000. Solstein Capital LLC raised its position in shares of AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Kennebec Savings Bank raised its position in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $25.71 on Wednesday. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $183.80 billion, a PE ratio of 8.35, a P/E/G ratio of 2.07 and a beta of 0.42. The firm has a 50 day moving average of $27.83 and a two-hundred day moving average of $27.75.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same period last year, the firm posted $0.60 EPS. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analyst Ratings Changes

Several equities analysts recently commented on T shares. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Wells Fargo & Company decreased their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Bank of America started coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

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.