Westwood Holdings Group Inc. Boosts Stock Position in AT&T Inc. (NYSE:T)

Westwood Holdings Group Inc. raised its stake in AT&T Inc. (NYSE:T) by 493.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,987 shares of the technology company’s stock after purchasing an additional 103,102 shares during the period. Westwood Holdings Group Inc.’s holdings in AT&T were worth $2,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the fourth quarter worth about $25,000. Pineridge Advisors LLC acquired a new stake in AT&T in the fourth quarter worth about $25,000. First Pacific Financial boosted its holdings in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in AT&T in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock traded down $0.18 on Friday, reaching $19.01. The company’s stock had a trading volume of 30,844,174 shares, compared to its average volume of 35,635,392. The company has a market capitalization of $136.30 billion, a P/E ratio of 10.22, a PEG ratio of 3.69 and a beta of 0.58. AT&T Inc. has a 52-week low of $13.89 and a 52-week high of $19.74. The stock has a 50-day moving average price of $18.32 and a 200-day moving average price of $17.46. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. Analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on T shares. Royal Bank of Canada raised their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays lifted their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday. Finally, StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.33.

AT&T 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.