Wealth Enhancement Advisory Services LLC Raises Stock Position in AT&T Inc. (NYSE:T)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 53.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,593,032 shares of the technology company’s stock after acquiring an additional 555,503 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AT&T were worth $35,047,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC boosted its stake in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of AT&T during the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 1.7 %

NYSE:T opened at $21.83 on Monday. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.58. The firm has a fifty day simple moving average of $21.20 and a 200-day simple moving average of $19.15. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $156.52 billion, a P/E ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on T shares. Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.