AT&T Inc. $T Stock Holdings Cut by Wernau Asset Management Inc.

Wernau Asset Management Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 27.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,103 shares of the technology company’s stock after selling 33,789 shares during the period. AT&T comprises approximately 1.8% of Wernau Asset Management Inc.’s investment portfolio, making the stock its 7th largest holding. Wernau Asset Management Inc.’s holdings in AT&T were worth $2,637,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in T. Vanguard Group Inc. lifted its stake in shares of AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after buying an additional 10,310,560 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T in the 2nd quarter valued at about $5,266,758,000. Geode Capital Management LLC boosted its holdings in shares of AT&T by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock worth $4,958,066,000 after purchasing an additional 2,066,026 shares during the last quarter. GQG Partners LLC increased its holdings in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after buying an additional 1,783,363 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on T. Williams Trading set a $33.00 target price on AT&T in a research note on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. TD Cowen upped their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Wall Street Zen downgraded AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.64.

AT&T Stock Up 0.4%

Shares of AT&T stock opened at $25.38 on Thursday. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The company has a market cap of $179.92 billion, a P/E ratio of 8.23, 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. The firm has a fifty day moving average of $26.53 and a two-hundred day moving average of $27.51.

AT&T (NYSE:T) last issued 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 business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is 36.04%.

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.