WESPAC Advisors LLC Raises Holdings in AT&T Inc. (NYSE:T)

WESPAC Advisors LLC grew its position in shares of AT&T Inc. (NYSE:T - Free Report) by 55.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,521 shares of the technology company's stock after buying an additional 23,360 shares during the period. AT&T comprises 1.5% of WESPAC Advisors LLC's portfolio, making the stock its 7th largest position. WESPAC Advisors LLC's holdings in AT&T were worth $1,853,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in AT&T by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company's stock worth $14,637,914,000 after buying an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company's stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Norges Bank bought a new stake in shares of AT&T in the 4th quarter worth approximately $1,858,418,000. Finally, Northern Trust Corp lifted its holdings in shares of AT&T by 16.3% in the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Down 2.4%

Shares of AT&T stock traded down $0.65 during midday trading on Friday, hitting $26.97. The company's stock had a trading volume of 42,637,282 shares, compared to its average volume of 36,516,853. The firm has a market capitalization of $194.07 billion, a P/E ratio of 16.55, a PEG ratio of 3.45 and a beta of 0.42. The stock has a 50-day simple moving average of $27.82 and a 200-day simple moving average of $26.30. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T Inc. has a 1-year low of $18.14 and a 1-year high of $29.19.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. During the same period in the prior year, the firm earned $0.55 EPS. AT&T's quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.12%. AT&T's payout ratio is presently 68.10%.

Analysts Set New Price Targets

T has been the topic of several recent research reports. TD Securities raised their price target on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada lifted their target price on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Scotiabank lifted their target price on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday. Barclays lifted their target price on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their target price on AT&T from $28.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.12.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.