GAMMA Investing LLC Raises Position in AT&T Inc. (NYSE:T)

GAMMA Investing LLC raised its position in AT&T Inc. (NYSE:T) by 15.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,258 shares of the technology company’s stock after buying an additional 22,195 shares during the period. GAMMA Investing LLC’s holdings in AT&T were worth $4,673,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new position in AT&T during the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new stake in AT&T in the 4th quarter valued at $27,000. Ball & Co Wealth Management Inc. purchased a new stake in AT&T in the 4th quarter valued at $30,000. Finally, REAP Financial Group LLC increased its stake in shares of AT&T by 115.2% in the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company’s stock worth $31,000 after acquiring an additional 727 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.3%

NYSE T opened at $28.08 on Friday. 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 has a market cap of $202.02 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 3.97 and a beta of 0.41. The firm has a 50 day simple moving average of $27.63 and a 200-day simple moving average of $25.94. AT&T Inc. has a one year low of $18.14 and a one year high of $29.03.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, July 10th. AT&T’s dividend payout ratio is currently 68.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on T shares. Morgan Stanley reissued an “overweight” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday, April 24th. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, June 17th. Finally, Royal Bank Of Canada increased their price objective on AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $28.76.

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.