CWA Asset Management Group LLC Sells 923 Shares of AT&T Inc. (NYSE:T)

CWA Asset Management Group LLC reduced its holdings in AT&T Inc. (NYSE:T) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,717 shares of the technology company’s stock after selling 923 shares during the quarter. CWA Asset Management Group LLC’s holdings in AT&T were worth $722,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Strategic Financial Concepts LLC increased its stake in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Acadian Asset Management LLC raised its stake in AT&T by 202.3% during the second quarter. Acadian Asset Management LLC now owns 822,797 shares of the technology company’s stock valued at $15,718,000 after buying an additional 550,583 shares during the last quarter. Quest Partners LLC raised its stake in AT&T by 5,378.3% during the second quarter. Quest Partners LLC now owns 3,780 shares of the technology company’s stock valued at $72,000 after buying an additional 3,711 shares during the last quarter. First Foundation Advisors grew its stake in shares of AT&T by 21.4% in the second quarter. First Foundation Advisors now owns 22,903 shares of the technology company’s stock worth $438,000 after acquiring an additional 4,043 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of AT&T by 4.9% during the second quarter. Ashton Thomas Private Wealth LLC now owns 38,931 shares of the technology company’s stock valued at $744,000 after acquiring an additional 1,823 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

NYSE T opened at $22.20 on Wednesday. The business’s fifty day moving average is $22.83 and its 200 day moving average is $21.17. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market capitalization of $159.29 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data 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 return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.00%. AT&T’s payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on T shares. UBS Group increased their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a report on Monday, December 16th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $22.00 to $26.00 in a research note on Monday. Finally, Citigroup increased their price objective on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $25.76.

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.