Harvest Fund Management Co. Ltd purchased a new stake in shares of AT&T Inc. (NYSE:T – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,147 shares of the technology company’s stock, valued at approximately $120,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in T. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of AT&T by 35.3% in 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 acquiring an additional 606 shares during the period. JB Capital LLC grew its stake in shares of AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the last quarter. Schubert & Co increased its holdings in AT&T by 2.0% during the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after purchasing an additional 631 shares during the period. Roof Eidam Maycock Peralta LLC raised its position in AT&T by 6.3% during the 3rd quarter. Roof Eidam Maycock Peralta LLC now owns 11,226 shares of the technology company’s stock valued at $169,000 after purchasing an additional 666 shares during the last quarter. Finally, MBM Wealth Consultants LLC lifted its holdings in AT&T by 4.5% in the 4th quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock worth $270,000 after buying an additional 678 shares during the period. 57.10% of the stock is currently owned by institutional investors.
AT&T Stock Down 1.3 %
Shares of NYSE:T opened at $16.59 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The stock has a market cap of $118.63 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57. The firm’s 50 day moving average price is $16.97 and its 200 day moving average price is $16.54.
AT&T Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.69%. AT&T’s payout ratio is 59.68%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on T shares. Barclays raised their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Scotiabank upped their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.81.
Read Our Latest Stock Analysis on AT&T
AT&T Company 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.
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