Occidental Asset Management LLC Raises Holdings in AT&T Inc. (NYSE:T)

Occidental Asset Management LLC lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,697 shares of the technology company's stock after buying an additional 15,653 shares during the quarter. Occidental Asset Management LLC's holdings in AT&T were worth $3,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Davidson Kempner Capital Management LP acquired a new position in shares of AT&T during the 2nd quarter worth approximately $23,888,000. International Assets Investment Management LLC purchased a new stake in AT&T in the 4th quarter worth $14,700,000. Swiss National Bank raised its position in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company's stock worth $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. raised its position in AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the period. Finally, Caprock Group LLC lifted its holdings in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company's stock valued at $4,312,000 after purchasing an additional 30,281 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of several recent research reports. Evercore ISI lifted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Barclays raised their target price on shares of AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein began coverage on AT&T in a research report on Tuesday, December 10th. They issued an "outperform" rating and a $28.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.83.

AT&T Trading Up 1.0 %

Shares of AT&T stock traded up $0.22 on Friday, reaching $22.24. The company had a trading volume of 21,295,721 shares, compared to its average volume of 32,988,512. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market cap of $159.54 billion, a PE ratio of 18.08, a PEG ratio of 3.46 and a beta of 0.59. The firm's 50 day moving average price is $22.79 and its two-hundred day moving average price is $21.28. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.99%. AT&T's payout ratio is currently 90.24%.

AT&T 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.