Westside Investment Management Inc. Sells 3,833 Shares of AT&T Inc. (NYSE:T)

Westside Investment Management Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 43.1% during the 4th quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of T. Thrivent Financial for Lutherans boosted its stake in AT&T by 4.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock worth $9,080,000 after acquiring an additional 21,233 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of AT&T by 5.4% in the 2nd quarter. Gabelli Funds LLC now owns 350,900 shares of the technology company’s stock valued at $6,706,000 after buying an additional 18,000 shares during the period. Mill Creek Capital Advisors LLC acquired a new position in shares of AT&T in the 2nd quarter valued at $203,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of AT&T by 59.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,370,019 shares of the technology company’s stock valued at $26,181,000 after buying an additional 513,484 shares in the last quarter. Finally, BlackBarn Capital Partners LP acquired a new stake in AT&T during the 2nd quarter worth $11,466,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on T. JPMorgan Chase & Co. boosted their target price on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Citigroup raised their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Stock Performance

NYSE T opened at $22.34 on Thursday. The firm 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. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average price is $22.80 and its two-hundred day moving average price is $21.40. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the firm earned $0.64 EPS. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. 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%.

AT&T Profile

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.