Wealthquest Corp Lowers Holdings in AT&T Inc. (NYSE:T)

Wealthquest Corp cut its holdings in shares of AT&T Inc. (NYSE:T) by 29.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vantage Financial Partners LLC raised its stake in AT&T by 25.5% during the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock worth $641,000 after acquiring an additional 7,762 shares in the last quarter. Gilbert & Cook Inc. lifted its position in AT&T by 4.1% in the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after purchasing an additional 1,212 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of AT&T by 4.5% in the fourth quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after buying an additional 1,194 shares in the last quarter. Evoke Wealth LLC boosted its position in shares of AT&T by 14.8% during the 4th quarter. Evoke Wealth LLC now owns 28,681 shares of the technology company’s stock worth $481,000 after purchasing an additional 3,693 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in AT&T by 309.1% during the fourth quarter. Eagle Asset Management Inc. now owns 603,211 shares of the technology company’s stock worth $10,122,000 after buying an additional 455,777 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, TD Cowen upped their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One investment 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. Based on data from MarketBeat, AT&T has a consensus rating of “Hold” and an average price target of $22.38.

AT&T Stock Up 0.4 %

T stock opened at $21.99 on Tuesday. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $157.64 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The firm’s 50-day moving average is $20.21 and its two-hundred day moving average is $18.54.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.05%. AT&T’s dividend payout ratio (DPR) is presently 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.