Mcdonald Partners LLC Raises Stock Position in AT&T Inc. (NYSE:T)

Mcdonald Partners LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 57.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,827 shares of the technology company’s stock after purchasing an additional 12,400 shares during the period. Mcdonald Partners LLC’s holdings in AT&T were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of T. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the fourth quarter worth about $25,000. Pineridge Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T during the third quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of 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 worth $39,000 after buying an additional 606 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of AT&T during the fourth quarter worth approximately $39,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T stock traded up $0.07 during trading hours on Wednesday, hitting $18.77. The stock had a trading volume of 32,025,718 shares, compared to its average volume of 36,822,129. The firm has a market capitalization of $134.55 billion, a PE ratio of 10.09, a PEG ratio of 4.25 and a beta of 0.60. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.81. The stock’s 50 day moving average is $17.42 and its 200 day moving average is $17.13. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

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. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.92%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on T. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Oppenheimer restated an “outperform” rating and set a $21.00 target price on shares of AT&T in a research note on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Monday, April 29th. Finally, Scotiabank upped their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.54.

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.