WESPAC Advisors LLC Makes New Investment in AT&T Inc. (NYSE:T)

WESPAC Advisors LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 37,513 shares of the technology company’s stock, valued at approximately $825,000.

Several other large investors have also made changes to their positions in the company. Pitcairn Co. lifted its stake in shares of AT&T by 66.1% in the 3rd quarter. Pitcairn Co. now owns 93,162 shares of the technology company’s stock valued at $2,050,000 after purchasing an additional 37,090 shares during the last quarter. Palisade Asset Management LLC raised its holdings in AT&T by 0.6% during the third quarter. Palisade Asset Management LLC now owns 156,671 shares of the technology company’s stock valued at $3,447,000 after buying an additional 1,000 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of AT&T by 5.0% in the third quarter. Kingsview Wealth Management LLC now owns 259,833 shares of the technology company’s stock worth $5,716,000 after buying an additional 12,393 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of AT&T by 16.4% during the 3rd quarter. Cerity Partners LLC now owns 1,564,886 shares of the technology company’s stock worth $34,428,000 after acquiring an additional 220,574 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in shares of AT&T by 19.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 66,883 shares of the technology company’s stock worth $1,472,000 after acquiring an additional 10,854 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of several analyst reports. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

Shares of T stock opened at $23.18 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.29. The company has a market capitalization of $166.32 billion, a P/E ratio of 18.85, a P/E/G ratio of 3.45 and a beta of 0.59. The stock has a 50 day moving average of $22.02 and a two-hundred day moving average of $19.94. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 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 analysts’ expectations of $30.50 billion. During the same period last year, the business earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend yield of 4.79%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

AT&T Company 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.