Jeppson Wealth Management LLC Decreases Holdings in AT&T Inc. (NYSE:T)

Jeppson Wealth Management LLC lowered its position in AT&T Inc. (NYSE:T) by 0.8% during the third quarter, HoldingsChannel.com reports. The fund owned 197,830 shares of the technology company’s stock after selling 1,654 shares during the quarter. AT&T accounts for approximately 1.6% of Jeppson Wealth Management LLC’s holdings, making the stock its 12th largest holding. Jeppson Wealth Management LLC’s holdings in AT&T were worth $4,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Socha Financial Group LLC boosted its stake in AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares during the period. Essex Savings Bank lifted its holdings in shares of AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after purchasing an additional 480 shares in the last quarter. Hayek Kallen Investment Management boosted its position in shares of AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares during the period. Lake Street Advisors Group LLC grew its holdings in shares of AT&T by 0.7% during the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after buying an additional 513 shares in the last quarter. Finally, Spinnaker Trust raised its position in AT&T by 0.4% during the third quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock valued at $2,741,000 after buying an additional 515 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $22.31 on Tuesday. The company has a market capitalization of $160.08 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. 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 one year low of $15.51 and a one year high of $22.73. The company’s fifty day moving average price is $21.70 and its 200 day moving average price is $19.56.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on T. Evercore ISI raised 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. Wells Fargo & Company decreased 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. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.