WealthCare Investment Partners LLC Sells 2,412 Shares of AT&T Inc. (NYSE:T)

WealthCare Investment Partners LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,726 shares of the technology company’s stock after selling 2,412 shares during the quarter. WealthCare Investment Partners LLC’s holdings in AT&T were worth $473,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Octavia Wealth Advisors LLC increased its position in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its holdings in AT&T by 2.3% during the second 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. Integral Investment Advisors Inc. increased its stake in shares of AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after purchasing an additional 538 shares in the last quarter. Financial Counselors Inc. raised its position in shares of AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 539 shares during the period. Finally, Certified Advisory Corp lifted its stake in shares of AT&T by 1.9% during the 2nd quarter. Certified Advisory Corp now owns 29,367 shares of the technology company’s stock valued at $561,000 after buying an additional 548 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on T shares. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Stock Up 0.4 %

Shares of NYSE T opened at $21.87 on Wednesday. The firm has a fifty day simple moving average of $20.53 and a two-hundred day simple moving average of $18.71. The firm has a market capitalization of $156.81 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 3.78 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.23 and a 12 month high of $22.34.

AT&T (NYSE:T) last announced its 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. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was down .3% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. AT&T’s payout ratio is 59.68%.

AT&T Company 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.