Occidental Asset Management LLC Boosts Position in AT&T Inc. (NYSE:T)

Occidental Asset Management LLC raised its position in shares of AT&T Inc. (NYSE:T) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 153,697 shares of the technology company’s stock after purchasing 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 SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after buying an additional 3,630,972 shares in the last quarter. FMR LLC raised its stake in AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Legal & General Group Plc lifted its holdings in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of AT&T by 2.5% in the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. Royal Bank of Canada upgraded shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $22.00 to $26.00 in a research note on Monday, January 6th. The Goldman Sachs Group raised their price target on AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Barclays upped their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. UBS Group lifted their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 0.5 %

T stock opened at $22.02 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market capitalization of $157.96 billion, a PE ratio of 17.90, a P/E/G ratio of 3.46 and a beta of 0.59. The firm’s 50-day moving average is $22.79 and its 200 day moving average 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 posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

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

AT&T Company 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.