LBA Wealth Management LLC Cuts Stake in AT&T Inc. (T)

LBA Wealth Management LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 31.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,514 shares of the technology company’s stock after selling 1,127 shares during the period. LBA Wealth Management LLC’s holdings in AT&T were worth $107,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Elgethun Capital Management acquired a new stake in AT&T during the fourth quarter worth $100,000. Massey Quick & Co. LLC purchased a new stake in AT&T during the fourth quarter valued at approximately $102,000. WealthTrust Arizona LLC raised its stake in AT&T by 3.8% in the third quarter. WealthTrust Arizona LLC now owns 2,712 shares of the technology company’s stock valued at $110,000 after buying an additional 100 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in AT&T during the third quarter valued at approximately $127,000. Finally, Concannon Wealth Management LLC raised its stake in AT&T by 40.3% in the third quarter. Concannon Wealth Management LLC now owns 3,145 shares of the technology company’s stock valued at $128,000 after buying an additional 904 shares in the last quarter. Institutional investors and hedge funds own 53.90% of the company’s stock.

Institutional Ownership by Quarter for AT&T (NYSE:T)

Shares of AT&T Inc. (NYSE:T) traded down 0.92% on Friday, reaching $39.99. 20,550,060 shares of the company were exchanged. AT&T Inc. has a 1-year low of $36.10 and a 1-year high of $43.89. The company has a 50-day moving average price of $41.49 and a 200 day moving average price of $40.39. The stock has a market capitalization of $245.60 billion, a PE ratio of 19.05 and a beta of 0.39.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. AT&T had a return on equity of 14.15% and a net margin of 7.92%. The firm earned $41.80 billion during the quarter, compared to analyst estimates of $42.14 billion. During the same period last year, the company posted $0.63 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post $2.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, April 6th. This represents a $1.96 dividend on an annualized basis and a yield of 4.86%. AT&T’s payout ratio is presently 93.78%.

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Several research firms have issued reports on T. William Blair reaffirmed a “market perform” rating on shares of AT&T in a report on Saturday, January 28th. Vetr downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $43.09 price objective on the stock. in a report on Monday, February 20th. Royal Bank of Canada increased their price objective on shares of AT&T from $39.00 to $42.00 and gave the company a “sector perform” rating in a report on Thursday, January 26th. Deutsche Bank AG reaffirmed a “hold” rating and set a $42.00 price objective on shares of AT&T in a report on Saturday, March 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $48.00 price target on shares of AT&T in a research note on Monday, January 16th. Sixteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. AT&T presently has an average rating of “Hold” and a consensus price target of $44.21.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

5 Day Chart for NYSE:T

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