Westwood Holdings Group Inc. Sells 3,758 Shares of AT&T Inc. (NYSE:T)

Westwood Holdings Group Inc. cut its position in AT&T Inc. (NYSE:T) by 3.0% in the second quarter, HoldingsChannel.com reports. The firm owned 120,229 shares of the technology company’s stock after selling 3,758 shares during the period. Westwood Holdings Group Inc.’s holdings in AT&T were worth $2,298,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in T. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter worth about $25,000. Pineridge Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter worth about $25,000. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC boosted its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.8 %

Shares of T stock opened at $21.54 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market cap of $154.45 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 3.79 and a beta of 0.59. The stock has a 50 day simple moving average of $19.88 and a 200-day simple moving average of $18.35. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the prior year, the company posted $0.63 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.15%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on T. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Oppenheimer upped their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Hold” and a consensus price target of $22.31.

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.