Carret Asset Management LLC Has $1.82 Million Holdings in AT&T Inc. (NYSE:T)

Carret Asset Management LLC cut its holdings in AT&T Inc. (NYSE:T) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,139 shares of the technology company’s stock after selling 17,657 shares during the period. Carret Asset Management LLC’s holdings in AT&T were worth $1,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Carmel Capital Partners LLC boosted its position in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton bought a new position in AT&T in the 3rd quarter valued at approximately $30,000. Ramirez Asset Management Inc. bought a new position in AT&T in the 3rd quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. increased its position in AT&T by 3,202.4% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after purchasing an additional 2,626 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T traded up $0.31 during trading on Wednesday, hitting $16.81. 74,184,828 shares of the company’s stock were exchanged, compared to its average volume of 39,342,547. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The business’s 50-day simple moving average is $16.98 and its 200 day simple moving average is $16.54. The company has a market cap of $120.24 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 2.46 and a beta of 0.57.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 56.63%.

Wall Street Analyst Weigh In

Several analysts have recently commented on T shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Wolfe Research upgraded 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. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

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.