PBWM Holdings LLC Has $1.94 Million Position in AT&T Inc. (T)

PBWM Holdings LLC reduced its position in shares of AT&T Inc. (NYSE:T) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,798 shares of the technology company’s stock after selling 1,387 shares during the period. AT&T comprises approximately 0.8% of PBWM Holdings LLC’s holdings, making the stock its 28th largest position. PBWM Holdings LLC’s holdings in AT&T were worth $1,944,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in T. Feltz Wealth PLAN Inc. purchased a new stake in shares of AT&T during the first quarter valued at approximately $104,000. Taylor Wealth Management Partners raised its stake in shares of AT&T by 0.4% in the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the period. Asset Planning Services Ltd. raised its stake in shares of AT&T by 26.6% in the first quarter. Asset Planning Services Ltd. now owns 4,169 shares of the technology company’s stock valued at $173,000 after buying an additional 877 shares during the period. Israel Discount Bank of New York GFN purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $196,000. Finally, Toth Financial Advisory Corp purchased a new stake in shares of AT&T during the first quarter valued at approximately $214,000. 55.24% of the stock is currently owned by institutional investors.

AT&T Inc. (NYSE:T) traded up 0.82% during mid-day trading on Friday, hitting $37.99. The stock had a trading volume of 14,187,866 shares. The firm’s 50-day moving average is $37.60 and its 200 day moving average is $39.38. AT&T Inc. has a one year low of $35.81 and a one year high of $43.03. The stock has a market cap of $233.26 billion, a PE ratio of 17.85 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post $2.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.16%. The ex-dividend date was Thursday, July 6th. AT&T’s payout ratio is 92.45%.

TRADEMARK VIOLATION NOTICE: “[[title]]” was posted by [[site]] and is the property of of [[site]]. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at [[permalink]].

A number of equities research analysts recently issued reports on T shares. Royal Bank Of Canada set a $42.00 target price on AT&T and gave the company a “hold” rating in a research note on Saturday, May 20th. Vetr raised AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 target price on the stock in a research note on Wednesday, August 16th. Moffett Nathanson raised AT&T from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 30th. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of AT&T in a research note on Thursday. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $41.00 target price (down previously from $43.00) on shares of AT&T in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.50.

AT&T Company Profile

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.