AT&T Inc. (NYSE:T) Stake Boosted by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC boosted its holdings in AT&T Inc. (NYSE:T) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,838 shares of the technology company’s stock after purchasing an additional 7,438 shares during the quarter. WCG Wealth Advisors LLC’s holdings in AT&T were worth $1,144,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T in the 4th quarter worth approximately $11,554,000. Clearbridge Investments LLC lifted its stake in AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares during the last quarter. Skopos Labs Inc. acquired a new position in shares of AT&T during the fourth quarter valued at $839,000. Wealth Enhancement Advisory Services LLC grew its position in shares of AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of AT&T in the 1st quarter worth about $9,074,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on T. Evercore ISI boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.31.

AT&T Stock Performance

Shares of NYSE T opened at $21.35 on Friday. The stock has a fifty day moving average price of $19.82 and a two-hundred day moving average price of $18.30. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market cap of $153.08 billion, a P/E ratio of 11.48, a PEG ratio of 3.79 and a beta of 0.59. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34.

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

AT&T Announces Dividend

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