ERTS Wealth Advisors LLC Increases Stake in AT&T Inc. (NYSE:T)

ERTS Wealth Advisors LLC grew its stake in AT&T Inc. (NYSE:T) by 30.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,378 shares of the technology company’s stock after buying an additional 1,507 shares during the quarter. ERTS Wealth Advisors LLC’s holdings in AT&T were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Private Wealth Management LLC boosted its stake in shares of AT&T by 5.6% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 85,552 shares of the technology company’s stock valued at $2,867,000 after buying an additional 4,538 shares during the period. Wesbanco Bank Inc. boosted its stake in shares of AT&T by 0.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 586,112 shares of the technology company’s stock valued at $19,641,000 after buying an additional 3,629 shares during the period. Pinnacle Holdings LLC boosted its stake in shares of AT&T by 20.7% in the 2nd quarter. Pinnacle Holdings LLC now owns 5,616 shares of the technology company’s stock valued at $188,000 after buying an additional 962 shares during the period. L & S Advisors Inc boosted its stake in shares of AT&T by 416.1% in the 2nd quarter. L & S Advisors Inc now owns 88,446 shares of the technology company’s stock valued at $2,964,000 after buying an additional 71,309 shares during the period. Finally, Qtron Investments LLC boosted its stake in shares of AT&T by 43.0% in the 2nd quarter. Qtron Investments LLC now owns 18,283 shares of the technology company’s stock valued at $613,000 after buying an additional 5,494 shares during the period. Institutional investors and hedge funds own 53.14% of the company’s stock.

NYSE T traded down $0.38 on Friday, reaching $38.00. The stock had a trading volume of 5,318,022 shares, compared to its average volume of 29,901,382. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. AT&T Inc. has a 12-month low of $26.80 and a 12-month high of $38.75. The business’s 50-day moving average price is $34.91 and its 200 day moving average price is $32.57. The stock has a market cap of $274.60 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.62.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 3.57 earnings per share for the current year.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.07% of the stock is currently owned by insiders.

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley set a $37.00 target price on AT&T and gave the stock a “buy” rating in a research note on Tuesday. ValuEngine cut AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Cowen set a $40.00 target price on AT&T and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Raymond James boosted their target price on AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $38.03.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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