Westchester Capital Management Inc. Reduces Position in AT&T Inc. (NYSE:T)

Westchester Capital Management Inc. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 130,478 shares of the technology company’s stock after selling 1,350 shares during the quarter. AT&T accounts for about 0.7% of Westchester Capital Management Inc.’s portfolio, making the stock its 26th largest position. Westchester Capital Management Inc.’s holdings in AT&T were worth $2,971,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of T. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the third quarter worth $25,000. Marshall Investment Management LLC acquired a new position in shares of AT&T during the fourth quarter worth $28,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares in the last quarter. YANKCOM Partnership acquired a new position in shares of AT&T during the fourth quarter worth $30,000. Finally, Tradewinds Capital Management LLC increased its position in shares of AT&T by 48.6% during the fourth 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. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $26.02 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $27.97. The stock has a market capitalization of $186.74 billion, a PE ratio of 17.46, a P/E/G ratio of 3.00 and a beta of 0.56. The firm has a 50 day moving average of $24.46 and a two-hundred day moving average of $22.94.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating 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%. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio is currently 74.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on T. Citigroup boosted their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. UBS Group upped their price target on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Argus raised shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Oppenheimer started coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, Barclays increased their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.74.

AT&T Profile

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.