Occidental Asset Management LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 119,987 shares of the technology company's stock, valued at approximately $2,112,000.
Several other large investors also recently modified their holdings of T. Frank Rimerman Advisors LLC bought a new position in AT&T in the fourth quarter worth approximately $25,000. Pineridge Advisors LLC bought a new position in AT&T in the 4th quarter worth $25,000. Ramirez Asset Management Inc. purchased a new position in AT&T during the third quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company's stock valued at $39,000 after purchasing an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new stake in AT&T in the fourth quarter worth about $39,000. Institutional investors own 57.10% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. BNP Paribas raised AT&T from an "underperform" rating to a "neutral" rating in a report on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft upped their price objective on AT&T from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Friday. UBS Group reissued a "buy" rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Finally, Oppenheimer restated an "outperform" rating and issued a $21.00 price target on shares of AT&T in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.71.
AT&T Trading Up 1.9 %
T stock traded up $0.36 during trading on Friday, hitting $19.11. The company had a trading volume of 52,825,162 shares, compared to its average volume of 33,874,564. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.13. The company has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $17.18. The firm has a market capitalization of $137.02 billion, a P/E ratio of 10.27, a PEG ratio of 4.26 and a beta of 0.60. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.
AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company 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%. AT&T's revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.
AT&T Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. AT&T's dividend payout ratio is presently 59.68%.
AT&T Company Profile
(Free Report)
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.
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