Wealth Enhancement Advisory Services LLC Buys 484,633 Shares of AT&T Inc. $T

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in AT&T by 18.4% in the 2nd quarter, owning over 3.1 million shares valued at approximately $88.3 million.
• AT&T reported earnings per share of $0.54 for the last quarter, surpassing analysts' expectations, with a year-over-year revenue increase of 3.4% to $30.85 billion.
• The company announced a quarterly dividend of $0.2775, representing an annualized dividend yield of 3.8% and a dividend payout ratio of 63.07%.

Wealth Enhancement Advisory Services LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 18.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,112,865 shares of the technology company's stock after acquiring an additional 484,633 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in AT&T were worth $88,281,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of T. Capital A Wealth Management LLC bought a new position in AT&T in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC bought a new position in AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T during the 2nd quarter worth $26,000. Putney Financial Group LLC acquired a new position in shares of AT&T during the 4th quarter worth $27,000. Finally, Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.3%

T stock traded down $0.09 during trading on Monday, hitting $28.92. The company had a trading volume of 25,831,577 shares, compared to its average volume of 29,475,850. The business has a 50-day moving average of $28.49 and a 200-day moving average of $27.84. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The stock has a market cap of $206.79 billion, a PE ratio of 16.43, a PEG ratio of 3.59 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The firm's revenue was up 3.4% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T's dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on T. The Goldman Sachs Group assumed coverage on AT&T in a report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.74.

AT&T Company Profile

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.