WealthCare Investment Partners LLC Increases Position in AT&T Inc. (NYSE:T)

WealthCare Investment Partners LLC grew its stake in AT&T Inc. (NYSE:T) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,998 shares of the technology company’s stock after buying an additional 1,079 shares during the period. WealthCare Investment Partners LLC’s holdings in AT&T were worth $578,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Steward Financial Group LLC increased its holdings in shares of AT&T by 159.7% in the 1st quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock valued at $30,000 after purchasing an additional 960 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in shares of AT&T during the 1st quarter worth about $31,000. FWL Investment Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $31,000. Lakewood Asset Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth about $32,000. Finally, Sageworth Trust Co acquired a new stake in shares of AT&T during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 53.65% of the company’s stock.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 10th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target on shares of AT&T in a research note on Thursday, August 3rd. Wells Fargo & Company dropped their price target on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 20th. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, JPMorgan Chase & Co. downgraded shares of AT&T from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $17.00 in a report on Friday, July 14th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.00.

AT&T Stock Up 0.5 %

Shares of NYSE T traded up $0.08 during midday trading on Tuesday, reaching $15.17. The company’s stock had a trading volume of 19,213,761 shares, compared to its average volume of 38,917,277. The stock has a market capitalization of $108.45 billion, a price-to-earnings ratio of -12.37, a PEG ratio of 1.87 and a beta of 0.64. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $20.50. The stock has a 50 day simple moving average of $14.46 and a 200-day simple moving average of $16.33. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $29.92 billion during the quarter, compared to analysts’ expectations of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. AT&T’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.43 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend was Friday, July 7th. AT&T’s payout ratio is -90.98%.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.