Westside Investment Management Inc. Sells 1,200 Shares of AT&T Inc. (NYSE:T)

Westside Investment Management Inc. lowered its stake in AT&T Inc. (NYSE:T) by 11.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,895 shares of the technology company’s stock after selling 1,200 shares during the quarter. Westside Investment Management Inc.’s holdings in AT&T were worth $184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Geode Capital Management LLC grew its holdings in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. FMR LLC raised its holdings in shares of AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after purchasing an additional 1,149,688 shares during the last quarter. Legal & General Group Plc lifted its position in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Oppenheimer began coverage on shares of AT&T in a research note on Tuesday. They issued an “outperform” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

AT&T Price Performance

Shares of NYSE T opened at $23.36 on Friday. The firm has a market cap of $167.61 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The business’s 50 day moving average is $22.44 and its 200-day moving average is $20.49. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.75%. AT&T’s payout ratio is 90.24%.

AT&T Company Profile

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.