Forte Capital LLC ADV Takes $253,000 Position in AT&T Inc. (NYSE:T)

Forte Capital LLC ADV acquired a new position in shares of AT&T Inc. (NYSE:T) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,050 shares of the technology company’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC grew its stake in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the period. Lipe & Dalton acquired a new stake in AT&T during the third quarter worth $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T in the third quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of 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 purchasing an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC grew its holdings in shares of AT&T by 588.2% during the 4th quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,241 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent analyst reports. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. 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 research report on Thursday, April 25th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Citigroup boosted their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Up 0.2 %

AT&T stock traded up $0.03 during trading on Friday, reaching $16.85. The stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The stock has a market cap of $120.52 billion, a PE ratio of 9.06, a P/E/G ratio of 3.31 and a beta of 0.57. The business has a 50 day moving average price of $16.97 and a 200 day moving average price of $16.64.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during 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 company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. AT&T’s payout ratio is currently 59.68%.

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.