Picton Mahoney Asset Management Buys Shares of 12,200 AT&T Inc. (NYSE:T)

Picton Mahoney Asset Management purchased a new position in AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 12,200 shares of the technology company’s stock, valued at approximately $204,000.

Other institutional investors also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of AT&T by 35.3% during the 4th 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 in the last quarter. JB Capital LLC grew its position in 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 buying an additional 614 shares during the last quarter. Connecticut Wealth Management LLC grew its position in AT&T by 3.0% in the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after buying an additional 620 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in shares of AT&T by 0.6% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock valued at $1,877,000 after buying an additional 630 shares in the last quarter. Finally, Schubert & Co lifted its position in shares of 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 acquiring an additional 631 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of NYSE T opened at $17.18 on Friday. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The company has a market cap of $123.18 billion, a P/E ratio of 9.24, a P/E/G ratio of 3.32 and a beta of 0.57. The business’s 50 day moving average is $16.98 and its two-hundred day moving average is $16.70. 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) last posted its quarterly earnings results 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. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the business posted $0.60 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.46%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Tigress Financial boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Scotiabank increased their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Finally, Citigroup lifted their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $20.81.

About AT&T

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.