Cutler Investment Counsel LLC Buys 4,803 Shares of AT&T Inc. (NYSE:T)

Cutler Investment Counsel LLC lifted its stake in AT&T Inc. (NYSE:T) by 23.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,335 shares of the technology company’s stock after buying an additional 4,803 shares during the quarter. Cutler Investment Counsel LLC’s holdings in AT&T were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC raised its stake in AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after purchasing an additional 76,746,649 shares during the period. Norges Bank bought a new stake in AT&T during the 4th quarter valued at approximately $1,229,499,000. Ameriprise Financial Inc. raised its stake in AT&T by 185.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock valued at $790,301,000 after purchasing an additional 34,189,954 shares during the period. FMR LLC grew its holdings in AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock valued at $863,884,000 after buying an additional 32,558,342 shares in the last quarter. Finally, Morgan Stanley grew its holdings in AT&T by 37.3% during the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.6 %

NYSE:T traded up $0.09 during mid-day trading on Friday, hitting $16.42. 26,912,761 shares of the company’s stock traded hands, compared to its average volume of 38,307,789. The company has a fifty day moving average of $17.01 and a 200 day moving average of $16.48. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.72. The company has a market capitalization of $117.45 billion, a P/E ratio of 8.37, a P/E/G ratio of 2.43 and a beta of 0.57. 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 (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. On average, analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid 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 6.76%. AT&T’s payout ratio is 56.63%.

Analyst Ratings Changes

T has been the subject of a number of recent research reports. Citigroup lifted their target price on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays lifted their target price on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

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.