Whittier Trust Co. of Nevada Inc. Sells 6,446 Shares of AT&T Inc. (NYSE:T)

Whittier Trust Co. of Nevada Inc. trimmed its position in shares of AT&T Inc. (NYSE:TFree Report) by 7.4% in the first quarter, Holdings Channel reports. The fund owned 80,153 shares of the technology company’s stock after selling 6,446 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in AT&T were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in AT&T during the fourth quarter valued at approximately $11,554,000. Provence Wealth Management Group lifted its position in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after buying an additional 5,807 shares during the period. Clearbridge Investments LLC boosted its stake in AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares in the last quarter. Retireful LLC bought a new stake in AT&T in the fourth quarter valued at $1,163,000. Finally, Brighton Jones LLC grew its position in AT&T by 12.6% in the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after acquiring an additional 5,161 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday, April 29th. Scotiabank lifted their target price on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Finally, Oppenheimer restated an “outperform” rating and set a $21.00 price target on shares of AT&T in a research report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $21.73.

Get Our Latest Report on AT&T

AT&T Stock Down 1.8 %

NYSE:T opened at $18.47 on Wednesday. The stock has a market cap of $132.43 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 3.55 and a beta of 0.58. 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 50-day moving average price of $17.87 and a two-hundred day moving average price of $17.29. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.32.

AT&T (NYSE:TGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. As a group, equities analysts expect that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 6.01%. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Profile

(Free Report)

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.

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

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