McAdam LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

McAdam LLC decreased its position in AT&T Inc. (NYSE:T) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,337 shares of the technology company’s stock after selling 3,043 shares during the quarter. McAdam LLC’s holdings in AT&T were worth $425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Newport Trust Company LLC lifted its holdings in AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after buying an additional 673,043 shares during the period. Northern Trust Corp lifted its stake in shares of AT&T by 2.5% in the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares during the period. Bank of New York Mellon Corp boosted its position in shares of AT&T by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock valued at $905,258,000 after purchasing an additional 334,222 shares in the last quarter. FMR LLC raised its holdings in AT&T by 130.5% in the third quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after purchasing an additional 32,558,342 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after buying an additional 34,189,954 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of analyst reports. Citigroup raised their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, March 5th. Finally, Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.81.

AT&T Trading Up 1.6 %

Shares of AT&T stock opened at $17.03 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company has a fifty day moving average of $16.97 and a 200 day moving average of $16.60. The company has a market capitalization of $121.78 billion, a P/E ratio of 9.15, a P/E/G ratio of 3.32 and a beta of 0.57. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.52%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.