Adell Harriman & Carpenter Inc. Buys 630 Shares of AT&T Inc. (NYSE:T)

Adell Harriman & Carpenter Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,852 shares of the technology company’s stock after acquiring an additional 630 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in AT&T were worth $1,877,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Carmel Capital Partners LLC increased 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 worth $25,000 after purchasing an additional 1,625 shares in the last quarter. Lipe & Dalton purchased a new stake in AT&T in the 3rd quarter worth about $30,000. Ramirez Asset Management Inc. bought a new stake in shares of AT&T during the 3rd quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position 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 acquiring an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. boosted its position in AT&T by 3,202.4% during the third 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 in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Monday. Scotiabank lifted their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. Finally, TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Down 0.9 %

T traded down $0.16 on Tuesday, reaching $16.86. The company’s stock had a trading volume of 2,897,491 shares, compared to its average volume of 39,007,586. The stock has a 50 day moving average of $16.97 and a two-hundred day moving average of $16.60. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $120.60 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. As a group, analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

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.