AT&T Inc. (T) Stake Reduced by V Wealth Management LLC

V Wealth Management LLC reduced its position in AT&T Inc. (NYSE:T) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,464 shares of the technology company’s stock after selling 7,481 shares during the period. V Wealth Management LLC’s holdings in AT&T were worth $1,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in AT&T during the fourth quarter worth approximately $2,416,759,000. Schwab Charles Investment Management Inc. boosted its stake in shares of AT&T by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock valued at $928,960,000 after buying an additional 985,330 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of AT&T by 6.1% in the fourth quarter. Macquarie Group Ltd. now owns 19,837,884 shares of the technology company’s stock valued at $843,705,000 after buying an additional 1,139,382 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of AT&T by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,915,402 shares of the technology company’s stock valued at $744,385,000 after buying an additional 143,884 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of AT&T by 26.5% in the fourth quarter. Teachers Advisors LLC now owns 13,610,660 shares of the technology company’s stock valued at $578,861,000 after buying an additional 2,849,017 shares during the last quarter. 55.29% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Inc. (T) traded down 1.608% during mid-day trading on Wednesday, hitting $38.255. 17,257,055 shares of the company were exchanged. The firm has a 50 day moving average price of $37.65 and a 200 day moving average price of $39.78. AT&T Inc. has a 12 month low of $35.81 and a 12 month high of $43.48. The stock has a market cap of $234.89 billion, a price-to-earnings ratio of 18.053 and a beta of 0.47.

AT&T (NYSE:T) last announced its earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post $2.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 annualized dividend and a yield of 5.04%. AT&T’s payout ratio is 92.45%.

T has been the subject of several recent research reports. Vetr raised shares of AT&T from a “hold” rating to a “buy” rating and set a $39.97 target price for the company in a report on Wednesday, May 17th. Macquarie reaffirmed a “buy” rating and set a $45.00 target price (down from $46.00) on shares of AT&T in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Wednesday, April 19th. Argus reaffirmed a “buy” rating and set a $51.00 target price on shares of AT&T in a report on Monday, April 10th. Finally, Barclays PLC cut their price target on shares of AT&T from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $43.40.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.