WealthPlan Investment Management LLC Acquires 2,092 Shares of AT&T Inc. $T

WealthPlan Investment Management LLC lifted its holdings in AT&T Inc. (NYSE:T) by 21.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,012 shares of the technology company’s stock after purchasing an additional 2,092 shares during the quarter. WealthPlan Investment Management LLC’s holdings in AT&T were worth $348,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CHURCHILL MANAGEMENT Corp lifted its position in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after purchasing an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. bought a new stake in shares of AT&T in the second quarter worth $489,000. ASR Vermogensbeheer N.V. lifted its position in shares of AT&T by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after purchasing an additional 9,970 shares in the last quarter. Simplicity Wealth LLC lifted its position in shares of AT&T by 180.5% in the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock worth $3,302,000 after purchasing an additional 73,417 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after purchasing an additional 102,419 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday, September 18th. Finally, HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.65.

AT&T Price Performance

NYSE:T opened at $26.33 on Friday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a market cap of $188.24 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.12 and a beta of 0.42. The firm’s fifty day moving average price is $28.27 and its two-hundred day moving average price is $27.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

AT&T Company Profile

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.