Wealthquest Corp Has $258,000 Stake in AT&T Inc. (NYSE:T)

Wealthquest Corp lowered its stake in shares of AT&T Inc. (NYSE:T) by 29.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,509 shares of the technology company’s stock after selling 5,524 shares during the quarter. Wealthquest Corp’s holdings in AT&T were worth $258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ariadne Wealth Management LP bought a new position in shares of AT&T in the second quarter worth about $465,000. PVG Asset Management Corp bought a new position in AT&T in the 2nd quarter worth approximately $212,000. 3Chopt Investment Partners LLC grew its stake in shares of AT&T by 63.4% in the second quarter. 3Chopt Investment Partners LLC now owns 41,302 shares of the technology company’s stock worth $789,000 after acquiring an additional 16,030 shares during the last quarter. LHM Inc. grew its stake in shares of AT&T by 36.0% in the second quarter. LHM Inc. now owns 327,261 shares of the technology company’s stock worth $6,254,000 after acquiring an additional 86,590 shares during the last quarter. Finally, SPC Financial Inc. increased its position in AT&T by 5.3% during the second quarter. SPC Financial Inc. now owns 22,546 shares of the technology company’s stock worth $431,000 after acquiring an additional 1,131 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on T. Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Finally, Redburn Atlantic raised 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, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.38.

AT&T Stock Performance

Shares of NYSE T opened at $21.99 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market cap of $157.64 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 3.68 and a beta of 0.59. The stock’s fifty day moving average price is $20.21 and its two-hundred day moving average price is $18.54. AT&T Inc. has a one year low of $14.12 and a one year high of $22.34.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is currently 59.68%.

About AT&T

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.