Wealthcare Advisory Partners LLC Acquires 9,038 Shares of AT&T Inc. $T

Wealthcare Advisory Partners LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,250 shares of the technology company’s stock after purchasing an additional 9,038 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in AT&T were worth $2,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Stone House Investment Management LLC bought a new stake in AT&T in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T in the second quarter worth about $26,000. Hager Investment Management Services LLC boosted its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the last quarter. Kennebec Savings Bank grew its holdings in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Finally, Core Alternative Capital increased its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 4.4%

T stock opened at $25.88 on Tuesday. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The stock has a market capitalization of $185.05 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm’s fifty day simple moving average is $28.56 and its two-hundred day simple moving average is $27.92.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio is currently 63.07%.

Analyst Ratings Changes

A number of research analysts have recently commented on T shares. Barclays reiterated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. Wells Fargo & Company increased their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Bank of America initiated coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Finally, Sanford C. Bernstein increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.75.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.