Wealth Enhancement Advisory Services LLC Trims Stake in AT&T Inc. (NYSE:T)

Wealth Enhancement Advisory Services LLC reduced its position in AT&T Inc. (NYSE:T) by 34.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 994,467 shares of the technology company’s stock after selling 533,920 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AT&T were worth $17,503,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc boosted its position in shares of AT&T by 1.7% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after acquiring an additional 598 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. JB Capital LLC boosted its position in shares of AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after acquiring an additional 614 shares during the last quarter. Fortitude Family Office LLC lifted its position in AT&T by 1.5% during the first quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after buying an additional 614 shares in the last quarter. Finally, Connecticut Wealth Management LLC lifted its position in AT&T by 3.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after buying an additional 620 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on T. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target on shares of AT&T in a research report on Tuesday. Scotiabank lifted their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday, April 29th. Finally, StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

AT&T Trading Up 2.0 %

T opened at $19.13 on Friday. The stock has a market capitalization of $137.17 billion, a PE ratio of 10.28, a P/E/G ratio of 4.26 and a beta of 0.60. The firm’s fifty day moving average price is $17.57 and its 200 day moving average price is $17.17. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.13.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, research analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.80%. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T 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.