WealthPLAN Partners LLC Sells 1,483 Shares of AT&T Inc. (NYSE:T)

WealthPLAN Partners LLC decreased its holdings in AT&T Inc. (NYSE:T) by 7.7% in the third quarter, Holdings Channel.com reports. The firm owned 17,775 shares of the technology company’s stock after selling 1,483 shares during the period. WealthPLAN Partners LLC’s holdings in AT&T were worth $391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in AT&T by 0.4% during the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the period. Legal & General Group Plc increased its stake in AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. lifted its position in AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on T shares. Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Oppenheimer upped their price target on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Evercore ISI lifted their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Performance

AT&T stock opened at $22.15 on Wednesday. The stock’s 50 day moving average is $21.75 and its 200 day moving average is $19.60. The company has a market capitalization of $158.93 billion, a P/E ratio of 18.01, a PEG ratio of 3.35 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.51 and a twelve month high of $22.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

AT&T Profile

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.