Occidental Asset Management LLC Buys New Shares in AT&T Inc. (NYSE:T)

Occidental Asset Management LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 119,987 shares of the technology company’s stock, valued at approximately $2,112,000.

Several other large investors have also made changes to their positions in T. Texas Capital Bank Wealth Management Services Inc grew its position in shares of AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after acquiring an additional 598 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in AT&T by 35.3% during 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 purchasing an additional 606 shares during the last quarter. JB Capital LLC raised its holdings in shares of AT&T by 2.4% during 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 period. Fortitude Family Office LLC lifted its position in shares of AT&T by 1.5% in the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock worth $732,000 after buying an additional 614 shares during the last quarter. Finally, Connecticut Wealth Management LLC boosted its holdings in shares of AT&T by 3.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after buying an additional 620 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on T shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday, April 29th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Oppenheimer restated an “outperform” rating and set a $21.00 price target on shares of AT&T in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.71.

AT&T Price Performance

T traded up $0.36 during trading on Friday, reaching $19.11. The stock had a trading volume of 52,825,162 shares, compared to its average volume of 33,874,564. The stock has a 50 day moving average of $17.57 and a two-hundred day moving average of $17.17. 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 has a market capitalization of $137.02 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 4.26 and a beta of 0.60. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.13.

AT&T (NYSE:T) last announced 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.2775 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.81%. AT&T’s payout ratio is currently 59.68%.

AT&T 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.