Widmann Financial Services Inc. Lowers Position in AT&T Inc. (NYSE:T)

Widmann Financial Services Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,562 shares of the technology company’s stock after selling 2,242 shares during the quarter. AT&T accounts for about 1.1% of Widmann Financial Services Inc.’s investment portfolio, making the stock its 29th largest position. Widmann Financial Services Inc.’s holdings in AT&T were worth $1,464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV increased its position in shares of AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T in the second quarter worth $78,570,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on T. Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Citigroup boosted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Oppenheimer boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

AT&T Price Performance

Shares of T stock opened at $23.16 on Friday. The business’s fifty day moving average is $22.17 and its 200 day moving average is $20.13. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $166.18 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.49 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.38.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the business earned $0.64 EPS. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. AT&T’s dividend payout ratio is currently 90.24%.

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.