Westpac Banking Corp trimmed its position in shares of AT&T Inc. (NYSE:T - Free Report) by 56.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,304 shares of the technology company's stock after selling 74,788 shares during the quarter. Westpac Banking Corp's holdings in AT&T were worth $1,328,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in AT&T during the 3rd quarter valued at $25,000. Marshall Investment Management LLC purchased a new stake in AT&T during the fourth quarter worth about $28,000. YANKCOM Partnership bought a new position in AT&T in the 4th quarter worth about $30,000. Tradewinds Capital Management LLC lifted its stake in AT&T by 48.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in shares of AT&T in the fourth quarter worth $34,000. 57.10% of the stock is currently owned by institutional investors.
AT&T Trading Up 0.1 %
Shares of T stock traded up $0.02 during trading hours on Monday, reaching $26.66. 37,746,194 shares of the stock were exchanged, compared to its average volume of 36,463,289. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $29.03. The firm has a market capitalization of $191.33 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company's 50-day moving average price is $26.26 and its 200-day moving average price is $23.76.
AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.
AT&T Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, April 10th. AT&T's payout ratio is 74.50%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on T shares. Argus upgraded AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a research note on Thursday, January 16th. UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Morgan Stanley upgraded AT&T from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Scotiabank raised their target price on shares of AT&T from $26.00 to $28.50 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Finally, Tigress Financial lifted their price target on AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.21.
Check Out Our Latest Analysis on T
AT&T Company Profile
(
Free Report)
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.
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