Tucker Asset Management LLC Grows Stake in AT&T Inc. (NYSE:T)

Tucker Asset Management LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 72.4% during the fourth quarter, Holdings Channel reports. The firm owned 8,725 shares of the technology company’s stock after buying an additional 3,664 shares during the quarter. Tucker Asset Management LLC’s holdings in AT&T were worth $146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the fourth quarter worth $25,000. Pineridge Advisors LLC purchased a new position in AT&T in the 4th quarter valued at about $25,000. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T during the 3rd quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake 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 worth $39,000 after purchasing an additional 606 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of AT&T during the fourth quarter worth about $39,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Down 0.2 %

NYSE:T traded down $0.03 during mid-day trading on Friday, hitting $17.64. The company had a trading volume of 22,652,283 shares, compared to its average volume of 30,374,524. The business has a fifty day simple moving average of $17.18 and a 200-day simple moving average of $17.06. The firm has a market capitalization of $126.48 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 3.48 and a beta of 0.60. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $18.45. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping 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 firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period in the previous year, the company posted $0.60 EPS. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.29%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Ratings Changes

A number of brokerages recently issued reports on T. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Scotiabank increased their price objective on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $21.32.

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.