WESPAC Advisors LLC Invests $825,000 in AT&T Inc. (NYSE:T)

WESPAC Advisors LLC bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 37,513 shares of the technology company's stock, valued at approximately $825,000.

Several other large investors have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company's stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock valued at $29,000 after buying an additional 841 shares in the last quarter. American Capital Advisory LLC raised its stake in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock valued at $30,000 after buying an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in shares of AT&T in the 2nd quarter valued at $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.9 %

T traded up $0.20 during trading on Friday, reaching $23.18. The company had a trading volume of 35,732,870 shares, compared to its average volume of 31,071,468. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.29. The business's fifty day moving average price is $22.02 and its 200 day moving average price is $19.94. The company has a market cap of $166.32 billion, a P/E ratio of 18.85, a PEG ratio of 3.45 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business's revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. 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 is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Royal Bank of Canada reiterated a "sector perform" rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Scotiabank cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Barclays increased their target price on shares of AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Oppenheimer increased their target price on shares of AT&T from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $23.40.

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.