AT&T Inc. (NYSE:T) Stock Position Boosted by Sierra Ocean LLC

Sierra Ocean LLC boosted its stake in AT&T Inc. (NYSE:T) by 13.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,550 shares of the technology company’s stock after buying an additional 408 shares during the period. Sierra Ocean LLC’s holdings in AT&T were worth $100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the fourth quarter worth about $27,000. Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the period. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of AT&T in the fourth quarter worth about $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $28.33 on Friday. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The firm has a market cap of $203.82 billion, a PE ratio of 17.38, a PEG ratio of 4.02 and a beta of 0.42. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The firm’s 50 day moving average price is $27.79 and its 200 day moving average price is $26.15.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the prior year, the business earned $0.55 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

Analyst Ratings Changes

Several research firms recently commented on T. Evercore ISI raised their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a report on Thursday, April 24th. Morgan Stanley restated an “overweight” rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a report on Thursday, April 24th. Barclays raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.90.

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.