Weik Capital Management Sells 2,025 Shares of AT&T Inc. (NYSE:T)

Weik Capital Management cut its stake in shares of AT&T Inc. (NYSE:T) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,900 shares of the technology company’s stock after selling 2,025 shares during the quarter. Weik Capital Management’s holdings in AT&T were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter valued at about $25,000. Pineridge Advisors LLC acquired a new stake in AT&T during the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC increased its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. Finally, American Capital Advisory LLC lifted its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE T opened at $21.64 on Friday. The company has a market cap of $155.16 billion, a P/E ratio of 11.63, a PEG ratio of 3.65 and a beta of 0.59. The company has a fifty day simple moving average of $19.59 and a 200 day simple moving average of $18.18. 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 Inc. has a 12-month low of $14.12 and a 12-month high of $21.86.

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

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.13%. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

A number of research firms recently weighed in on T. TD Cowen increased their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

About AT&T

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.