Gateway Wealth Partners LLC Has $310,000 Holdings in AT&T Inc. (NYSE:T)

Gateway Wealth Partners LLC lessened its holdings in shares of AT&T Inc. (NYSE:T) by 14.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,247 shares of the technology company’s stock after selling 2,825 shares during the period. Gateway Wealth Partners LLC’s holdings in AT&T were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC boosted its position in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC boosted its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $21.99 on Tuesday. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The firm has a fifty day simple moving average of $20.21 and a 200 day simple moving average of $18.54. The company has a market capitalization of $157.64 billion, a PE ratio of 11.82, a P/E/G ratio of 3.68 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, hitting 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 during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the firm earned $0.63 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Citigroup raised their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.38.

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.