Naples Money Management LLC Purchases New Shares in AT&T Inc. (NYSE:T)

Naples Money Management LLC acquired a new position in shares of AT&T Inc. (NYSE:T) during the 4th quarter, Holdings Channel reports. The firm acquired 7,423 shares of the technology company’s stock, valued at approximately $125,000.

A number of other institutional investors also recently modified their holdings of T. State Street Corp grew its position in AT&T by 0.5% during the first quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after buying an additional 1,567,008 shares in the last quarter. Newport Trust Company LLC increased its position in shares of AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after purchasing an additional 673,043 shares during the period. Morgan Stanley raised its stake in AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in AT&T by 85,003.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after purchasing an additional 76,746,649 shares during the period. Finally, Northern Trust Corp grew its stake in AT&T by 2.5% during the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after buying an additional 1,828,237 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.1 %

Shares of NYSE:T traded up $0.18 during mid-day trading on Friday, reaching $16.51. 45,814,895 shares of the company’s stock were exchanged, compared to its average volume of 38,577,504. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.72. The firm has a market capitalization of $118.09 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 2.43 and a beta of 0.57. The business’s fifty day moving average price is $17.01 and its 200-day moving average price is $16.48.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter last year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.21 EPS 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 given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.72%. AT&T’s dividend payout ratio (DPR) is currently 56.63%.

Analyst Ratings Changes

Several brokerages have recently commented on T. Tigress Financial boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, January 19th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

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.