Wedbush Securities Inc. Sells 35,034 Shares of AT&T Inc. $T

Wedbush Securities Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 17.1% in the second quarter, Holdings Channel reports. The institutional investor owned 170,311 shares of the technology company’s stock after selling 35,034 shares during the period. Wedbush Securities Inc.’s holdings in AT&T were worth $4,929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Denali Advisors LLC boosted its position in shares of AT&T by 5.9% in the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares in the last quarter. Tredje AP fonden raised its stake in AT&T by 1.8% in the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after buying an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. acquired a new stake in AT&T in the second quarter worth about $489,000. Finally, Sentry Investment Management LLC grew its stake in shares of AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after acquiring an additional 13,370 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

NYSE:T opened at $24.81 on Friday. The firm’s fifty day moving average is $27.14 and its two-hundred day moving average is $27.62. The firm has a market cap of $175.85 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Williams Trading set a $33.00 target price on AT&T in a research report on Thursday, October 23rd. Finally, Barclays reduced their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. One investment 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, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target 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.