Northwest Wealth Management LLC Has $407,000 Position in AT&T Inc. (NYSE:T)

Northwest Wealth Management LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 20.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,133 shares of the technology company’s stock after selling 3,160 shares during the quarter. Northwest Wealth Management LLC’s holdings in AT&T were worth $407,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of T. Nordea Investment Management AB grew its position in shares of AT&T by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after purchasing an additional 3,097,958 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of AT&T by 140.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,387,550 shares of the technology company’s stock valued at $96,681,000 after purchasing an additional 1,978,124 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of AT&T by 15.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 10,869,000 shares of the technology company’s stock valued at $310,201,000 after purchasing an additional 1,485,000 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of AT&T by 3,227.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,265,484 shares of the technology company’s stock valued at $126,548,000 after purchasing an additional 1,227,451 shares during the period. Finally, QV Investors Inc. grew its position in shares of AT&T by 28.9% in the 4th quarter. QV Investors Inc. now owns 3,684,706 shares of the technology company’s stock valued at $105,161,000 after purchasing an additional 826,700 shares during the period. Institutional investors own 52.93% of the company’s stock.

In other news, CEO John T. Stankey sold 4,024 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.07% of the company’s stock.

Several equities analysts recently issued reports on T shares. Morgan Stanley reiterated a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research report on Thursday. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research report on Thursday. Cowen boosted their price objective on AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America reiterated a “buy” rating and issued a $37.00 price objective on shares of AT&T in a research report on Monday, June 24th. Finally, Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $36.78.

NYSE T traded down $0.52 during trading on Monday, hitting $33.65. The stock had a trading volume of 9,986,558 shares, compared to its average volume of 31,755,744. The firm has a market cap of $249.38 billion, a P/E ratio of 9.56, a PEG ratio of 2.14 and a beta of 0.62. The company has a 50-day moving average price of $33.30. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.72. AT&T Inc. has a 12 month low of $26.80 and a 12 month high of $34.64.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.89. The firm had revenue of $44.96 billion for the quarter, compared to analysts’ expectations of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. Sell-side analysts expect that AT&T Inc. will post 3.57 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s payout ratio is 57.95%.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

Further Reading: How a Put Option Works

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.