Perigon Wealth Management LLC Sells 5,103 Shares of AT&T Inc. (NYSE:T)

Perigon Wealth Management LLC lowered its holdings in AT&T Inc. (NYSE:T – Get Rating) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,484 shares of the technology company’s stock after selling 5,103 shares during the quarter. Perigon Wealth Management LLC’s holdings in AT&T were worth $529,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of AT&T during the second quarter valued at $34,000. Bay Harbor Wealth Management LLC bought a new position in AT&T during the 3rd quarter valued at about $36,000. Eisler Capital UK Ltd. acquired a new position in AT&T in the third quarter valued at about $36,000. McClarren Financial Advisors Inc. bought a new stake in AT&T during the third quarter worth about $45,000. Finally, Western Pacific Wealth Management LP increased its holdings in shares of AT&T by 268.6% during the third quarter. Western Pacific Wealth Management LP now owns 3,487 shares of the technology company’s stock worth $53,000 after buying an additional 2,541 shares in the last quarter. Institutional investors and hedge funds own 51.86% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T opened at $18.13 on Friday. The firm’s 50 day simple moving average is $19.20 and its 200 day simple moving average is $18.19. AT&T Inc. has a fifty-two week low of $14.46 and a fifty-two week high of $21.53. The company has a market capitalization of $129.26 billion, a price-to-earnings ratio of -15.24, a P/E/G ratio of 2.27 and a beta of 0.66. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.53.

AT&T (NYSE:T – Get Rating) last posted its earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. AT&T had a negative net margin of 6.60% and a positive return on equity of 14.18%. The company had revenue of $31.30 billion for the quarter, compared to analyst estimates of $31.50 billion. During the same period last year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was down 23.6% compared to the same quarter last year. As a group, sell-side analysts forecast that AT&T Inc. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Morgan Stanley lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a report on Thursday, December 15th. Raymond James increased their price objective on AT&T from $24.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 26th. TheStreet downgraded AT&T from a “b” rating to a “c” rating in a research report on Wednesday, January 25th. Finally, Wells Fargo & Company upgraded AT&T from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $17.00 to $22.00 in a report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

AT&T Company Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.