WealthCare Investment Partners LLC Acquires 1,079 Shares of AT&T Inc. (NYSE:T)

WealthCare Investment Partners LLC grew its stake in AT&T Inc. (NYSE:T) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,998 shares of the technology company’s stock after purchasing an additional 1,079 shares during the period. WealthCare Investment Partners LLC’s holdings in AT&T were worth $578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its position in AT&T by 4.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,305,071 shares of the technology company’s stock valued at $36,766,000 after acquiring an additional 96,462 shares in the last quarter. DMC Group LLC boosted its position in shares of AT&T by 31.9% in the 2nd quarter. DMC Group LLC now owns 26,754 shares of the technology company’s stock worth $427,000 after purchasing an additional 6,472 shares in the last quarter. Pacer Advisors Inc. lifted its position in AT&T by 30.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,498,953 shares of the technology company’s stock worth $39,858,000 after acquiring an additional 584,131 shares during the period. Keel Point LLC lifted its position in AT&T by 3.7% during the 2nd quarter. Keel Point LLC now owns 25,877 shares of the technology company’s stock worth $413,000 after acquiring an additional 925 shares during the period. Finally, Community Trust & Investment Co. lifted its position in AT&T by 20.4% during the 2nd quarter. Community Trust & Investment Co. now owns 190,365 shares of the technology company’s stock worth $3,036,000 after acquiring an additional 32,204 shares during the period. 53.65% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T traded up $0.08 during trading hours on Tuesday, reaching $15.17. 19,213,761 shares of the company traded hands, compared to its average volume of 38,917,277. The stock has a fifty day simple moving average of $14.46 and a 200 day simple moving average of $16.33. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $20.50. The stock has a market capitalization of $108.45 billion, a PE ratio of -12.37, a price-to-earnings-growth ratio of 1.87 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $29.92 billion during the quarter, compared to analyst estimates of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. As a group, research analysts predict that AT&T Inc. will post 2.43 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend was Friday, July 7th. AT&T’s dividend payout ratio is presently -90.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price objective on shares of AT&T in a report on Thursday, August 3rd. Royal Bank of Canada decreased their price objective on AT&T from $19.00 to $14.00 and set a “sector perform” rating for the company in a report on Thursday, August 10th. Wells Fargo & Company decreased their price objective on AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, July 20th. Deutsche Bank Aktiengesellschaft reduced their price target on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Finally, Moffett Nathanson upgraded AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price target for the company in a research report on Tuesday, June 6th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.00.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.