Ergawealth Advisors Inc. Buys 747 Shares of AT&T Inc. (NYSE:T)

Ergawealth Advisors Inc. raised its stake in AT&T Inc. (NYSE:T) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,116 shares of the technology company’s stock after acquiring an additional 747 shares during the period. Ergawealth Advisors Inc.’s holdings in AT&T were worth $187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Carmel Capital Partners LLC increased its holdings in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton purchased a new position in shares of AT&T during the 3rd quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T during the 3rd quarter worth about $30,000. FWL Investment Management LLC purchased a new position in shares of AT&T during the 4th quarter worth about $31,000. Finally, Financial Freedom LLC purchased a new position in shares of AT&T during the 4th quarter worth about $34,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 1.0 %

AT&T stock traded down $0.17 during midday trading on Tuesday, hitting $16.07. 32,927,619 shares of the stock were exchanged, compared to its average volume of 38,403,168. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $19.92. The stock has a market capitalization of $114.95 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. The stock’s 50-day simple moving average is $17.07 and its 200 day simple moving average is $16.48. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. AT&T’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

Wall Street Analysts Forecast Growth

T has been the subject of several research reports. Barclays upped their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Finally, Tigress Financial boosted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $20.68.

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.