WealthCare Investment Partners LLC Has $416,000 Position in AT&T Inc. (NYSE:T)

WealthCare Investment Partners LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 25.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,613 shares of the technology company’s stock after selling 8,006 shares during the quarter. WealthCare Investment Partners LLC’s holdings in AT&T were worth $416,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of T. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth $25,000. Ramirez Asset Management Inc. bought a new stake in shares of AT&T during the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in shares of AT&T during the fourth quarter worth $39,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.5 %

AT&T stock traded down $0.09 during midday trading on Thursday, reaching $18.67. The stock had a trading volume of 6,484,448 shares, compared to its average volume of 36,591,984. The firm’s fifty day simple moving average is $17.42 and its 200-day simple moving average is $17.13. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.81. The stock has a market capitalization of $133.87 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 4.25 and a beta of 0.60. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, analysts expect that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.95%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on T shares. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Scotiabank raised their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.54.

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.