McKinley Carter Wealth Services Inc. Decreases Position in AT&T Inc. $T

McKinley Carter Wealth Services Inc. trimmed its position in shares of AT&T Inc. (NYSE:T) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 19,642 shares of the technology company’s stock after selling 565 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in AT&T were worth $568,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of T. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the second quarter valued at $5,266,758,000. Nuveen LLC purchased a new stake in shares of AT&T in the first quarter valued at $1,072,128,000. GQG Partners LLC lifted its position in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 1.0%

Shares of T opened at $25.85 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $184.82 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. The stock’s fifty day simple moving average is $28.45 and its 200 day simple moving average is $27.88. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on T. Sanford C. Bernstein upped their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Wells Fargo & Company upped their price objective on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T 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.