1900 Wealth Management LLC Sells 4,422 Shares of AT&T Inc. (NYSE:T)

1900 Wealth Management LLC decreased its stake in AT&T Inc. (NYSE:T) by 26.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,009 shares of the technology company’s stock after selling 4,422 shares during the quarter. 1900 Wealth Management LLC’s holdings in AT&T were worth $202,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Newport Trust Company LLC grew its holdings in shares of AT&T by 0.3% during the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares during the last quarter. Northern Trust Corp grew its holdings in shares of AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AT&T by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock valued at $905,258,000 after purchasing an additional 334,222 shares during the last quarter. FMR LLC grew its holdings in shares of AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after purchasing an additional 32,558,342 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after acquiring an additional 34,189,954 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.2 %

Shares of NYSE T opened at $16.51 on Wednesday. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.16. The stock has a market cap of $118.09 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The firm has a 50-day moving average of $16.98 and a 200 day moving average of $16.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. During the same period last year, the business earned $0.61 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.72%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on T shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Citigroup raised their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Friday, January 19th. Finally, Barclays raised their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

AT&T 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.