Wealth Advisors of Tampa Bay LLC Has $3.65 Million Stock Holdings in AT&T Inc. (NYSE:T)

Wealth Advisors of Tampa Bay LLC raised its stake in AT&T Inc. (NYSE:T) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,890 shares of the technology company’s stock after purchasing an additional 10,240 shares during the period. AT&T accounts for approximately 1.7% of Wealth Advisors of Tampa Bay LLC’s investment portfolio, making the stock its 26th biggest position. Wealth Advisors of Tampa Bay LLC’s holdings in AT&T were worth $3,648,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Octavia Wealth Advisors LLC lifted its holdings in AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares during the period. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares during the last quarter. WealthCare Investment Partners LLC raised its stake in shares of AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares during the period. Integral Investment Advisors Inc. boosted its holdings in shares of AT&T by 3.2% in the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in shares of AT&T by 0.6% in the 2nd quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after buying an additional 539 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $21.35 on Friday. The business has a 50-day simple moving average of $19.82 and a 200 day simple moving average of $18.30. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The stock has a market cap of $153.08 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 3.79 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm posted $0.63 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.20%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of several research reports. Moffett Nathanson lifted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, AT&T has an average rating of “Hold” and a consensus target price of $22.31.

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.