Armstrong Fleming & Moore Inc Has $1.05 Million Stock Holdings in AT&T Inc. (NYSE:T)

Armstrong Fleming & Moore Inc cut its position in AT&T Inc. (NYSE:T) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,711 shares of the technology company’s stock after selling 1,629 shares during the period. AT&T accounts for approximately 0.8% of Armstrong Fleming & Moore Inc’s investment portfolio, making the stock its 25th biggest holding. Armstrong Fleming & Moore Inc’s holdings in AT&T were worth $1,052,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Carmel Capital Partners LLC boosted its stake in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new position in AT&T during the 3rd quarter valued at about $30,000. Ramirez Asset Management Inc. bought a new position in shares of AT&T during the 3rd quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position 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 buying an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its position in shares of 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 worth $41,000 after buying an additional 2,626 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.2 %

T stock traded up $0.03 during trading on Wednesday, reaching $16.92. The company had a trading volume of 38,979,234 shares, compared to its average volume of 39,369,152. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The company has a market cap of $121.03 billion, a P/E ratio of 9.16, a PEG ratio of 3.38 and a beta of 0.57. The business has a 50 day moving average of $16.97 and a 200 day moving average of $16.62. 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 announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on T shares. Scotiabank lifted their price target 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. Citigroup lifted their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Finally, Wolfe Research raised 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 report on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

About AT&T

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.