Transcendent Capital Group LLC Takes $51,000 Position in AT&T Inc. (NYSE:T)

Transcendent Capital Group LLC bought a new stake in AT&T Inc. (NYSE:T) during the 4th quarter, HoldingsChannel reports. The firm bought 3,050 shares of the technology company’s stock, valued at approximately $51,000.

Other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth about $25,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the third quarter worth about $30,000. Western Pacific Wealth Management LP purchased a new position in shares of AT&T in the fourth quarter worth about $39,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of AT&T by 35.3% in the fourth 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. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on T shares. Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday, March 5th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Finally, BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.32.

AT&T Trading Down 0.2 %

Shares of AT&T stock traded down $0.03 on Friday, reaching $17.64. The company had a trading volume of 22,652,283 shares, compared to its average volume of 30,374,524. The firm’s 50 day moving average price is $17.18 and its two-hundred day moving average price is $17.05. The firm has a market cap of $126.48 billion, a PE ratio of 9.49, a PEG ratio of 3.48 and a beta of 0.60. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.45. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

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, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T 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.