Silverlake Wealth Management LLC Reduces Position in AT&T Inc. (NYSE:T)

by · The Cerbat Gem

Silverlake Wealth Management LLC decreased its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,842 shares of the technology company’s stock after selling 5,537 shares during the period. Silverlake Wealth Management LLC’s holdings in AT&T were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of AT&T by 1.2% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after purchasing an additional 547 shares during the last quarter. SMH Capital Advisors Inc. boosted its holdings in shares of AT&T by 1.8% during the fourth quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock worth $585,000 after purchasing an additional 565 shares during the last quarter. Kahn Brothers Group Inc. boosted its holdings in shares of AT&T by 3.4% during the fourth quarter. Kahn Brothers Group Inc. now owns 17,329 shares of the technology company’s stock worth $319,000 after purchasing an additional 575 shares during the last quarter. Hancock Whitney Corp boosted its holdings in shares of AT&T by 0.9% during the first quarter. Hancock Whitney Corp now owns 74,780 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 654 shares during the last quarter. Finally, Ironwood Investment Counsel LLC boosted its holdings in shares of AT&T by 0.7% during the first quarter. Ironwood Investment Counsel LLC now owns 98,352 shares of the technology company’s stock worth $1,893,000 after purchasing an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.

AT&T Stock Down 0.8 %

Shares of NYSE T opened at $16.52 on Friday. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $20.50. The firm has a market cap of $118.12 billion, a price-to-earnings ratio of -10.73, a PEG ratio of 2.01 and a beta of 0.62. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.64 and a current ratio of 0.69. The stock’s 50-day simple moving average is $15.77 and its 200-day simple moving average is $15.24.

AT&T (NYSE:T – Get Free Report) last announced its earnings results on Thursday, October 19th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $30.35 billion for the quarter, compared to analyst estimates of $30.25 billion. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.44 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.72%. The ex-dividend date is Tuesday, January 9th. AT&T’s dividend payout ratio is currently -72.08%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on T. Morgan Stanley reduced their target price on AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Citigroup lifted their target price on AT&T from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Wells Fargo & Company lifted their target price on AT&T from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on AT&T from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, October 12th. Finally, StockNews.com assumed coverage on AT&T in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.68.

Read Our Latest Research Report on T

AT&T Profile

(Free Report)

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.

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