WFA Asset Management Corp Has $3.52 Million Stock Holdings in AT&T Inc. (NYSE:T)

WFA Asset Management Corp lessened its position in AT&T Inc. (NYSE:T) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,914 shares of the technology company’s stock after selling 6,977 shares during the quarter. AT&T makes up about 1.8% of WFA Asset Management Corp’s portfolio, making the stock its 11th biggest position. WFA Asset Management Corp’s holdings in AT&T were worth $3,518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Caxton Associates LP acquired a new position in shares of AT&T during the 3rd quarter worth approximately $249,000. Lazard Asset Management LLC boosted its stake in AT&T by 5.0% in the 3rd quarter. Lazard Asset Management LLC now owns 1,654,328 shares of the technology company’s stock valued at $24,847,000 after purchasing an additional 78,632 shares during the period. Glenmede Trust Co. NA boosted its stake in AT&T by 56.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,370,955 shares of the technology company’s stock valued at $20,592,000 after purchasing an additional 492,812 shares during the period. Axxcess Wealth Management LLC boosted its stake in AT&T by 140.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 205,178 shares of the technology company’s stock valued at $3,082,000 after purchasing an additional 119,843 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake 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 valued at $790,301,000 after purchasing an additional 34,189,954 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on T shares. Scotiabank upped their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Monday, April 29th. The Goldman Sachs Group initiated coverage on AT&T in a report on Monday. They set a “buy” rating and a $22.00 price target for the company. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.73.

AT&T Stock Performance

Shares of T traded down $0.07 on Wednesday, reaching $18.75. 8,490,784 shares of the company’s stock traded hands, compared to its average volume of 36,632,004. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The stock has a market cap of $134.44 billion, a PE ratio of 10.13, a PEG ratio of 4.34 and a beta of 0.58. The stock’s 50 day simple moving average is $17.67 and its two-hundred day simple moving average is $17.21. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.32.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period last year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

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.