McKinley Carter Wealth Services Inc. Decreases Holdings in AT&T Inc. $T

McKinley Carter Wealth Services Inc. reduced its position in AT&T Inc. (NYSE:T) by 2.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 19,642 shares of the technology company’s stock after selling 565 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in AT&T were worth $568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the 2nd quarter valued at about $5,266,758,000. GQG Partners LLC lifted its holdings in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AT&T by 3.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after acquiring an additional 1,307,009 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $25.85 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $28.45 and its two-hundred day moving average is $27.88. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The stock has a market capitalization of $184.82 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.12 and a beta of 0.42.

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

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on T shares. Bank of America started coverage on AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. UBS Group set a $33.00 price target on AT&T in a research report on Thursday, September 18th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. Barclays restated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.