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

Westwood Holdings Group Inc. cut its holdings in AT&T Inc. (NYSE:T) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.

Other institutional investors have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of AT&T in the fourth quarter worth $11,554,000. Clearbridge Investments LLC increased its stake in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares in the last quarter. M&G Plc purchased a new stake in shares of AT&T in the first quarter worth $9,074,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of AT&T by 30.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 835,361 shares of the technology company’s stock worth $14,017,000 after purchasing an additional 197,234 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.8 %

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

AT&T (NYSE:T) last released 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 last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.31.

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.