Harvest Fund Management Co. Ltd Buys Shares of 7,147 AT&T Inc. (NYSE:T)

Harvest Fund Management Co. Ltd purchased a new stake in shares of AT&T Inc. (NYSE:T) 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 (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

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.

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.