GAMMA Investing LLC Takes $920,000 Position in AT&T Inc. (NYSE:T)

GAMMA Investing LLC acquired a new position in shares of AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 52,005 shares of the technology company’s stock, valued at approximately $920,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in T. Carmel Capital Partners LLC raised its holdings 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 position in AT&T in the 3rd quarter worth about $30,000. Ramirez Asset Management Inc. acquired a new stake in AT&T during the 3rd quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after buying an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. boosted its holdings in shares of AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after buying an additional 2,626 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.2 %

Shares of T stock traded up $0.20 on Tuesday, hitting $16.51. 47,772,969 shares of the stock were exchanged, compared to its average volume of 38,895,176. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $118.09 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The business has a 50-day moving average of $16.99 and a 200 day moving average of $16.53.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. Equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 annualized dividend and a dividend yield of 6.72%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup raised their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Tigress Financial upped their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

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.