AT&T Inc. $T Shares Acquired by WESPAC Advisors LLC

Key Points

• WESPAC Advisors LLC increased its holdings in AT&T by 46.8% in Q2, owning a total of 96,206 shares valued at approximately $2.78 million, making AT&T its 5th largest position.
• AT&T reported a profit of $0.54 per share for the last quarter, exceeding analysts' expectations and resulting in a 3.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.2775, with a yield of 4.2%, and plans to pay dividends on November 3rd to shareholders of record on October 10th.

WESPAC Advisors LLC raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 46.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,206 shares of the technology company's stock after purchasing an additional 30,685 shares during the quarter. AT&T makes up 1.9% of WESPAC Advisors LLC's holdings, making the stock its 5th biggest position. WESPAC Advisors LLC's holdings in AT&T were worth $2,784,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T during the second quarter worth $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T during the first quarter worth $1,072,128,000. GQG Partners LLC lifted its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after buying an additional 8,841,126 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 1.0%

T stock opened at $26.13 on Wednesday. The company has a market cap of $186.85 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.42. The business has a 50-day simple moving average of $28.54 and a 200 day simple moving average of $27.91. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is currently 63.07%.

Analyst Ratings Changes

A number of research firms have recently weighed in on T. Scotiabank set a $30.25 target price on AT&T and gave the stock a "sector perform" rating in a report on Monday. HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Barclays reissued an "equal weight" rating and set a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.75.

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.

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