Ergawealth Advisors Inc. Has $380,000 Stake in AT&T Inc. $T

Ergawealth Advisors Inc. boosted its stake in shares of AT&T Inc. (NYSE:T) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,117 shares of the technology company’s stock after purchasing an additional 867 shares during the period. Ergawealth Advisors Inc.’s holdings in AT&T were worth $380,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new position in AT&T in the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the second quarter valued at about $26,000. Kennebec Savings Bank increased its position in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Hager Investment Management Services LLC increased its position in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. acquired a new stake in AT&T in the 1st quarter worth about $29,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Saturday, September 27th. Finally, Barclays reissued an “equal weight” rating and set a $30.00 target price on shares of AT&T in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.74.

AT&T Price Performance

Shares of T stock opened at $27.06 on Friday. The business has a fifty day simple moving average of $28.60 and a 200 day simple moving average of $27.92. The company has a market cap of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. 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 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.51 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.1%. AT&T’s dividend payout ratio is presently 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.