Eagle Wealth Strategies LLC Boosts Stock Position in AT&T Inc. (NYSE:T)

Eagle Wealth Strategies LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 17.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,755 shares of the technology company’s stock after buying an additional 3,444 shares during the period. Eagle Wealth Strategies LLC’s holdings in AT&T were worth $501,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of T. Pineridge Advisors LLC purchased a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $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% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC increased its stake in 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 purchasing an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in AT&T in the 2nd quarter valued at approximately $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.1 %

Shares of T traded down $0.03 during trading hours on Wednesday, hitting $21.83. The stock had a trading volume of 2,443,518 shares, compared to its average volume of 35,671,117. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market cap of $156.52 billion, a P/E ratio of 11.76, a P/E/G ratio of 3.78 and a beta of 0.60. The company’s fifty day simple moving average is $20.58 and its 200 day simple moving average is $18.75. AT&T Inc. has a 12-month low of $14.23 and a 12-month high of $22.34.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Equities research analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on T shares. Evercore ISI raised their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $22.38.

AT&T Profile

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.