Procyon Advisors LLC Has $1.53 Million Holdings in AT&T Inc. (NYSE:T)

Procyon Advisors LLC lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 89.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,045 shares of the technology company's stock after purchasing an additional 31,600 shares during the period. Procyon Advisors LLC's holdings in AT&T were worth $1,527,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of T. Bradley Foster & Sargent Inc. CT raised its stake in shares of AT&T by 1.9% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 31,101 shares of the technology company's stock worth $594,000 after buying an additional 570 shares during the last quarter. Blair William & Co. IL raised its position in shares of AT&T by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 406,190 shares of the technology company's stock valued at $7,762,000 after acquiring an additional 17,001 shares during the last quarter. Waterloo Capital L.P. acquired a new position in shares of AT&T in the 2nd quarter valued at $441,000. WCG Wealth Advisors LLC boosted its position in shares of AT&T by 14.2% in the 2nd quarter. WCG Wealth Advisors LLC now owns 59,838 shares of the technology company's stock worth $1,144,000 after purchasing an additional 7,438 shares during the last quarter. Finally, Cowa LLC grew its stake in shares of AT&T by 70.9% during the second quarter. Cowa LLC now owns 45,760 shares of the technology company's stock worth $874,000 after purchasing an additional 18,977 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

NYSE T traded up $0.28 during trading on Friday, reaching $22.30. The company's stock had a trading volume of 33,632,584 shares, compared to its average volume of 28,784,102. The firm has a 50 day moving average price of $22.79 and a 200 day moving average price of $21.31. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The firm has a market capitalization of $159.97 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Friday, January 10th. AT&T's payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of AT&T from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. Argus raised AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a research note on Thursday. The Goldman Sachs Group boosted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on AT&T from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.83.

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.