EdgeRock Capital LLC Buys Shares of 3,425 AT&T Inc. (NYSE:T)

EdgeRock Capital LLC purchased a new position in shares of AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,425 shares of the technology company’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hyman Charles D grew its stake in shares of AT&T by 184.9% in the 4th quarter. Hyman Charles D now owns 100,386 shares of the technology company’s stock valued at $1,684,000 after buying an additional 65,156 shares in the last quarter. Everpar Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $287,000. Gryphon Financial Partners LLC grew its position in AT&T by 21.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after acquiring an additional 4,870 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of AT&T by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,589,421 shares of the technology company’s stock worth $848,888,000 after purchasing an additional 798,024 shares during the last quarter. Finally, Northern Financial Advisors Inc raised its holdings in shares of AT&T by 9.2% during the 4th quarter. Northern Financial Advisors Inc now owns 31,288 shares of the technology company’s stock valued at $525,000 after purchasing an additional 2,637 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.2 %

Shares of NYSE:T traded up $0.03 during trading on Wednesday, hitting $17.11. 24,716,345 shares of the company’s stock were exchanged, compared to its average volume of 38,659,590. The firm has a 50-day moving average price of $16.98 and a two-hundred day moving average price of $16.69. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.16. The firm has a market cap of $122.68 billion, a P/E ratio of 9.20, a PEG ratio of 3.32 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Equities analysts predict that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.49%. AT&T’s payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Scotiabank increased their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

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.