Delta Asset Management LLC TN Has $2.26 Million Stake in AT&T Inc. (NYSE:T)

Delta Asset Management LLC TN raised its stake in shares of AT&T Inc. (NYSE:T) by 117.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,700 shares of the technology company’s stock after buying an additional 72,692 shares during the quarter. Delta Asset Management LLC TN’s holdings in AT&T were worth $2,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of T. Sora Investors LLC acquired a new position in shares of AT&T in the 3rd quarter valued at approximately $11,265,000. Provence Wealth Management Group increased its position in shares of AT&T by 55.8% during the fourth quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after acquiring an additional 5,807 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after purchasing an additional 1,178 shares during the period. Retireful LLC bought a new position in shares of AT&T during the fourth quarter worth about $1,163,000. Finally, Brighton Jones LLC raised its position in AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock valued at $776,000 after buying an additional 5,161 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.3 %

T stock traded up $0.23 during midday trading on Wednesday, reaching $17.50. 30,375,957 shares of the company’s stock traded hands, compared to its average volume of 37,432,141. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm’s fifty day moving average price is $17.02 and its 200-day moving average price is $16.83. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The company has a market cap of $125.48 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 3.44 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $30.62 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.34%. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

Several research firms have weighed in on T. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Citigroup boosted their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Tigress Financial upped their price objective 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. Finally, TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, AT&T 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.