Wetherby Asset Management Inc. Buys 15,263 Shares of AT&T Inc. (NYSE:T)

Wetherby Asset Management Inc. grew its stake in shares of AT&T Inc. (NYSE:TGet Rating) by 18.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,777 shares of the technology company’s stock after buying an additional 15,263 shares during the quarter. Wetherby Asset Management Inc.’s holdings in AT&T were worth $2,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Catalyst Capital Advisors LLC boosted its holdings in shares of AT&T by 1,071.4% during the fourth quarter. Catalyst Capital Advisors LLC now owns 65,600 shares of the technology company’s stock worth $1,614,000 after purchasing an additional 60,000 shares during the period. Paradigm Financial Advisors LLC lifted its holdings in AT&T by 10.0% in the fourth quarter. Paradigm Financial Advisors LLC now owns 16,653 shares of the technology company’s stock worth $410,000 after buying an additional 1,513 shares during the period. L2 Asset Management LLC purchased a new stake in AT&T in the fourth quarter worth about $252,000. Rhumbline Advisers lifted its holdings in AT&T by 0.4% in the fourth quarter. Rhumbline Advisers now owns 11,957,273 shares of the technology company’s stock worth $294,149,000 after buying an additional 44,592 shares during the period. Finally, Winfield Associates Inc. lifted its holdings in AT&T by 9.3% in the fourth quarter. Winfield Associates Inc. now owns 19,156 shares of the technology company’s stock worth $471,000 after buying an additional 1,625 shares during the period. 52.88% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of T opened at $17.03 on Friday. The company has a market capitalization of $121.36 billion, a P/E ratio of 6.26, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $18.74 and a 200 day moving average of $20.45. AT&T Inc. has a twelve month low of $16.62 and a twelve month high of $21.53.

AT&T (NYSE:TGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The company had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.53 earnings per share for the current fiscal year.

AT&T Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Friday, July 8th. AT&T’s dividend payout ratio (DPR) is presently 40.81%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Tigress Financial lowered their price objective on shares of AT&T from $31.00 to $28.00 in a report on Thursday, June 16th. Moffett Nathanson lowered their price objective on shares of AT&T from $19.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, August 18th. Wells Fargo & Company lowered their price objective on shares of AT&T to $22.00 in a report on Friday, July 22nd. Cowen lowered their price objective on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of AT&T from $24.00 to $22.00 in a report on Friday, July 22nd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Hold” and an average price target of $23.78.

AT&T Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices 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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