Wealthquest Corp Has $272,000 Holdings in AT&T Inc. (NYSE:T)

Wealthquest Corp cut its holdings in shares of AT&T Inc. (NYSE:T) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,303 shares of the technology company’s stock after selling 1,206 shares during the period. Wealthquest Corp’s holdings in AT&T were worth $272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC raised its position in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in AT&T during the 3rd quarter worth about $25,000. Riggs Asset Managment Co. Inc. lifted its position in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC grew its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T stock opened at $23.48 on Thursday. The company has a fifty day moving average price of $22.44 and a two-hundred day moving average price of $20.49. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The stock has a market cap of $168.48 billion, a P/E ratio of 19.09, a P/E/G ratio of 3.63 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.73%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

A number of brokerages recently commented on T. Barclays lifted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price objective on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Tigress Financial upped their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.00.

About AT&T

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.