Westmount Partners LLC Sells 2,099 Shares of AT&T Inc. $T

Westmount Partners LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 9.7% in the 2nd quarter, Holdings Channel reports. The firm owned 19,505 shares of the technology company’s stock after selling 2,099 shares during the quarter. Westmount Partners LLC’s holdings in AT&T were worth $564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in T. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the fourth quarter worth $25,000. Stone House Investment Management LLC bought a new stake in shares of AT&T in the first quarter valued at about $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T in the fourth quarter valued at about $27,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Finally, Core Alternative Capital raised its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on T shares. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Morgan Stanley lifted their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Scotiabank lifted their price objective on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.60.

AT&T Stock Performance

Shares of AT&T stock opened at $29.66 on Tuesday. The company has a market capitalization of $212.08 billion, a PE ratio of 16.85, a P/E/G ratio of 3.68 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a 50-day simple moving average of $28.33 and a two-hundred day simple moving average of $27.76. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. 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 company posted $0.51 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.7%. AT&T’s payout ratio is presently 63.07%.

About AT&T

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.