Wealth Advisors of Tampa Bay LLC Raises Stake in AT&T Inc. (NYSE:T)

Wealth Advisors of Tampa Bay LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 190,890 shares of the technology company’s stock after acquiring an additional 10,240 shares during the quarter. AT&T accounts for approximately 1.7% of Wealth Advisors of Tampa Bay LLC’s holdings, making the stock its 26th biggest holding. Wealth Advisors of Tampa Bay LLC’s holdings in AT&T were worth $3,648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in T. Cantor Fitzgerald Investment Advisors L.P. bought a new position in AT&T during the 4th quarter worth approximately $11,554,000. Clearbridge Investments LLC increased its stake in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares during the period. Skopos Labs Inc. bought a new stake in AT&T during the 4th quarter valued at $839,000. Wealth Enhancement Advisory Services LLC boosted its position in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares during the period. Finally, M&G Plc bought a new stake in AT&T in the 1st quarter worth $9,074,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Hold” and an average price target of $22.31.

AT&T Price Performance

Shares of NYSE T opened at $21.35 on Friday. The company has a 50 day simple moving average of $19.82 and a two-hundred day simple moving average of $18.30. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The company has a market capitalization of $153.08 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 3.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

AT&T Company Profile

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.