Whitener Capital Management Inc. Lowers Holdings in AT&T Inc. (NYSE:T)

Whitener Capital Management Inc. cut its position in AT&T Inc. (NYSE:T) by 11.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 27,921 shares of the technology company’s stock after selling 3,747 shares during the quarter. Whitener Capital Management Inc.’s holdings in AT&T were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of T. Steward Financial Group LLC raised its position in shares of AT&T by 159.7% during the 1st quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock valued at $30,000 after buying an additional 960 shares in the last quarter. Carmel Capital Partners LLC purchased a new stake in shares of AT&T during the 1st quarter valued at $31,000. Grey Fox Wealth Advisors LLC raised its position in shares of AT&T by 41,000.0% during the 1st quarter. Grey Fox Wealth Advisors LLC now owns 1,644 shares of the technology company’s stock valued at $32,000 after buying an additional 1,640 shares in the last quarter. Sageworth Trust Co purchased a new stake in shares of AT&T during the 1st quarter valued at $32,000. Finally, FWL Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter valued at $31,000. 53.65% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.7 %

NYSE:T traded up $0.10 during mid-day trading on Tuesday, hitting $15.19. 17,860,177 shares of the company’s stock were exchanged, compared to its average volume of 38,907,223. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. The business has a fifty day moving average price of $14.46 and a 200 day moving average price of $16.33. The company has a market cap of $108.59 billion, a PE ratio of -12.37, a P/E/G ratio of 1.87 and a beta of 0.64.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. AT&T’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Equities analysts predict that AT&T Inc. will post 2.43 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.11 annualized dividend and a yield of 7.31%. AT&T’s dividend payout ratio (DPR) is presently -90.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on T shares. JPMorgan Chase & Co. cut shares of AT&T from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $17.00 in a research report on Friday, July 14th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of AT&T from $23.00 to $22.00 in a research report on Friday, July 14th. Wells Fargo & Company decreased their target price on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. Moffett Nathanson upgraded shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price on the stock in a research report on Tuesday, June 6th. Finally, StockNews.com began coverage on shares of AT&T in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Hold” and a consensus price target of $20.00.

AT&T Company 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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.