Eagle Wealth Strategies LLC Makes New Investment in AT&T Inc. (NYSE:T)

Eagle Wealth Strategies LLC purchased a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,092 shares of the technology company’s stock, valued at approximately $320,000.

A number of other large investors also recently modified their holdings of the business. Exchange Traded Concepts LLC increased its stake in shares of AT&T by 33.0% in the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock valued at $651,000 after buying an additional 10,758 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of AT&T in the third quarter valued at $237,000. Fulton Breakefield Broenniman LLC increased its stake in shares of AT&T by 23.3% in the third quarter. Fulton Breakefield Broenniman LLC now owns 15,108 shares of the technology company’s stock valued at $227,000 after buying an additional 2,857 shares in the last quarter. Coastal Investment Advisors Inc. increased its stake in shares of AT&T by 2.4% in the third quarter. Coastal Investment Advisors Inc. now owns 83,713 shares of the technology company’s stock valued at $1,335,000 after buying an additional 1,995 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in shares of AT&T by 8.7% in the third quarter. Brookstone Capital Management now owns 1,039,180 shares of the technology company’s stock valued at $15,858,000 after buying an additional 83,154 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. Citigroup raised their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Thursday. Scotiabank lifted their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Trading Up 0.8 %

NYSE:T opened at $16.88 on Monday. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The stock has a market capitalization of $120.74 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 3.32 and a beta of 0.57. The business’s 50-day simple moving average is $16.96 and its 200-day simple moving average is $16.58.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

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.