Wealth Enhancement Advisory Services LLC Boosts Stock Position in AT&T Inc. (NYSE:T)

Wealth Enhancement Advisory Services LLC grew its stake in AT&T Inc. (NYSE:T - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,628,232 shares of the technology company's stock after purchasing an additional 230,460 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in AT&T were worth $74,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC grew its position in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of AT&T during the fourth quarter worth $757,000. Venturi Wealth Management LLC boosted its position in shares of AT&T by 55.5% during the fourth quarter. Venturi Wealth Management LLC now owns 23,387 shares of the technology company's stock worth $533,000 after buying an additional 8,349 shares during the period. Kestra Investment Management LLC boosted its position in shares of AT&T by 3.5% during the fourth quarter. Kestra Investment Management LLC now owns 17,980 shares of the technology company's stock worth $409,000 after buying an additional 604 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in shares of AT&T by 80.8% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 36,169 shares of the technology company's stock worth $824,000 after buying an additional 16,164 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 0.0%

T opened at $27.65 on Friday. The business's 50-day simple moving average is $27.51 and its 200-day simple moving average is $25.76. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. AT&T Inc. has a one year low of $17.90 and a one year high of $29.03. The stock has a market capitalization of $198.92 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 3.85 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS 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 firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter last year, the firm posted $0.55 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on T shares. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Tigress Financial raised their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. TD Securities increased their price objective on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Barclays increased their price objective 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, Scotiabank reiterated an "outperform" rating on shares of AT&T in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.76.

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.

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