Westmount Partners LLC Sells 5,859 Shares of AT&T Inc. (NYSE:T)

Westmount Partners LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,736 shares of the technology company’s stock after selling 5,859 shares during the period. Westmount Partners LLC’s holdings in AT&T were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Davidson Kempner Capital Management LP bought a new stake in AT&T in the 2nd quarter valued at approximately $23,888,000. International Assets Investment Management LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $14,700,000. Swiss National Bank increased its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. increased its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Finally, Caprock Group LLC increased its position in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on T. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group boosted their target price on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Oppenheimer assumed coverage on AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. UBS Group boosted their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.76.

AT&T Price Performance

Shares of T stock traded down $0.15 on Monday, hitting $21.54. 16,137,544 shares of the company’s stock were exchanged, compared to its average volume of 31,118,971. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The stock has a market cap of $154.56 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The company has a 50 day moving average of $22.81 and a 200 day moving average of $21.24.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the company earned $0.64 EPS. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.15%. AT&T’s payout ratio is presently 90.24%.

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.