Wesbanco Bank Inc. Decreases Stock Position in AT&T Inc. $T

Wesbanco Bank Inc. cut its stake in AT&T Inc. (NYSE:T) by 9.3% in the second quarter, HoldingsChannel reports. The firm owned 253,144 shares of the technology company’s stock after selling 25,882 shares during the quarter. Wesbanco Bank Inc.’s holdings in AT&T were worth $7,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capstone Wealth Management LLC purchased a new position in AT&T in the first quarter valued at $201,000. Wedmont Private Capital boosted its holdings in AT&T by 7.9% in the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock valued at $3,302,000 after purchasing an additional 9,027 shares during the period. Xponance Inc. boosted its holdings in AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after purchasing an additional 102,419 shares during the period. NBT Bank N A NY boosted its holdings in AT&T by 7.5% in the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock valued at $3,660,000 after purchasing an additional 8,989 shares during the period. Finally, Park Edge Advisors LLC purchased a new position in AT&T in the first quarter valued at $1,000,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $29.59 on Friday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market capitalization of $211.58 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44. The business has a 50-day moving average of $28.31 and a two-hundred day moving average of $27.73.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the business earned $0.51 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Finally, Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.60.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.