Widmann Financial Services Inc. Has $1.46 Million Stock Position in AT&T Inc. (NYSE:T)

Widmann Financial Services Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,562 shares of the technology company’s stock after selling 2,242 shares during the period. AT&T makes up 1.1% of Widmann Financial Services Inc.’s investment portfolio, making the stock its 29th largest holding. Widmann Financial Services Inc.’s holdings in AT&T were worth $1,464,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its holdings in AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp grew its position in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. increased its stake in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in AT&T during the second quarter worth $78,570,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on T. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Barclays boosted their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

AT&T Stock Performance

NYSE:T opened at $23.16 on Friday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.38. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The business has a fifty day simple moving average of $22.17 and a two-hundred day simple moving average of $20.13. The company has a market capitalization of $166.18 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.49 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. On average, analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. AT&T’s payout ratio is 90.24%.

About AT&T

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.