Occidental Asset Management LLC Increases Holdings in AT&T Inc. (NYSE:T)

Occidental Asset Management LLC increased its position in shares of AT&T Inc. (NYSE:T) by 11.3% in the fourth quarter, HoldingsChannel reports. The firm owned 153,697 shares of the technology company’s stock after acquiring an additional 15,653 shares during the quarter. Occidental Asset Management LLC’s holdings in AT&T were worth $3,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of T. Cypress Wealth Services LLC boosted its holdings in shares of AT&T by 15.6% in the 4th quarter. Cypress Wealth Services LLC now owns 14,178 shares of the technology company’s stock valued at $323,000 after acquiring an additional 1,912 shares during the last quarter. Congress Park Capital LLC purchased a new stake in AT&T in the fourth quarter valued at $285,000. Capital Advisors Wealth Management LLC grew its position in AT&T by 12.8% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 21,666 shares of the technology company’s stock worth $493,000 after purchasing an additional 2,464 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of AT&T by 99.1% in the 4th quarter. Ritholtz Wealth Management now owns 171,144 shares of the technology company’s stock valued at $3,897,000 after buying an additional 85,200 shares during the period. Finally, Carnegie Investment Counsel boosted its stake in shares of AT&T by 9.0% in the fourth quarter. Carnegie Investment Counsel now owns 12,025 shares of the technology company’s stock worth $274,000 after buying an additional 989 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Morgan Stanley upgraded AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $28.00 in a research report on Monday, December 16th. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Up 0.5 %

Shares of T opened at $22.02 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market cap of $157.96 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The company’s 50-day moving average price is $22.79 and its 200 day moving average price is $21.28. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.04%. AT&T’s payout ratio is 90.24%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.