Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in AT&T Inc. $T

Wealth Enhancement Advisory Services LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 1.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,146,450 shares of the technology company’s stock after purchasing an additional 33,585 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AT&T were worth $82,325,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Front Row Advisors LLC purchased a new position in AT&T in the second quarter valued at about $25,000. Mountain Hill Investment Partners Corp. grew its position in shares of AT&T by 363.7% during the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock valued at $25,000 after buying an additional 702 shares during the last quarter. Kennebec Savings Bank lifted its holdings in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the last quarter. Solstein Capital LLC boosted its position in AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Finally, Curio Wealth LLC increased its holdings in shares of AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,044 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of AT&T stock traded down $0.16 during mid-day trading on Tuesday, reaching $23.34. 4,260,495 shares of the stock were exchanged, compared to its average volume of 39,867,875. AT&T Inc. has a fifty-two week low of $22.02 and a fifty-two week high of $29.79. The company has a market cap of $165.43 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 1.28 and a beta of 0.39. The firm has a 50-day simple moving average of $24.78 and a 200 day simple moving average of $26.56. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a yield of 4.8%. AT&T’s payout ratio is presently 36.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on T shares. Citigroup lowered their target price on shares of AT&T from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Sanford C. Bernstein decreased their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Friday. Arete lowered AT&T from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, January 6th. Wells Fargo & Company decreased their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Finally, Wolfe Research lowered shares of AT&T from an “outperform” rating to a “peer perform” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $29.36.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.