Everhart Financial Group Inc. Purchases 4,102 Shares of AT&T Inc. (NYSE:T)

Everhart Financial Group Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,643 shares of the technology company’s stock after purchasing an additional 4,102 shares during the period. Everhart Financial Group Inc.’s holdings in AT&T were worth $796,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in T. WealthCare Investment Partners LLC raised its position in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of AT&T by 1.3% in the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after purchasing an additional 559 shares in the last quarter. Riverview Trust Co increased its holdings in shares of AT&T by 4.6% in the 2nd quarter. Riverview Trust Co now owns 13,368 shares of the technology company’s stock valued at $255,000 after purchasing an additional 592 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after purchasing an additional 598 shares in the last quarter. Finally, Klingman & Associates LLC increased its holdings in shares of AT&T by 3.1% in the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock valued at $350,000 after purchasing an additional 603 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.1 %

Shares of T traded up $0.20 during mid-day trading on Friday, reaching $19.72. 21,508,478 shares of the stock traded hands, compared to its average volume of 35,880,934. The firm has a market cap of $141.36 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 3.26 and a beta of 0.58. The stock has a fifty day simple moving average of $18.96 and a 200 day simple moving average of $17.79. AT&T Inc. has a 12-month low of $14.04 and a 12-month high of $19.99. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.63%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

T has been the subject of several recent research reports. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Royal Bank of Canada raised their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

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.