WMG Financial Advisors LLC Decreases Stock Position in AT&T Inc. (NYSE:T)

WMG Financial Advisors LLC cut its holdings in AT&T Inc. (NYSE:T) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 133,667 shares of the technology company’s stock after selling 5,323 shares during the quarter. AT&T comprises 1.3% of WMG Financial Advisors LLC’s holdings, making the stock its 15th largest position. WMG Financial Advisors LLC’s holdings in AT&T were worth $3,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Unified Investment Management purchased a new position in shares of AT&T in the fourth quarter worth about $864,000. Wernau Asset Management Inc. purchased a new position in shares of AT&T in the fourth quarter worth about $2,853,000. Meridian Wealth Management LLC raised its stake in shares of AT&T by 1.7% in the fourth quarter. Meridian Wealth Management LLC now owns 60,044 shares of the technology company’s stock worth $1,367,000 after purchasing an additional 1,010 shares during the last quarter. Kelly Financial Group LLC purchased a new position in shares of AT&T in the fourth quarter worth about $261,000. Finally, NINE MASTS CAPITAL Ltd purchased a new position in shares of AT&T in the fourth quarter worth about $2,033,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $27.69 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The business’s 50 day moving average price is $24.01 and its 200-day moving average price is $22.64. The firm has a market capitalization of $198.76 billion, a PE ratio of 18.58, a P/E/G ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $27.86.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s dividend payout ratio is presently 74.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Scotiabank lifted their price target on AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday. Oppenheimer assumed coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target for the company. Royal Bank of Canada lifted their price target on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, BNP Paribas upgraded AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price target for the company in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.45.

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.