United Asset Strategies Inc. Raises Stake in AT&T Inc. (NYSE:T)

United Asset Strategies Inc. raised its position in shares of AT&T Inc. (NYSE:T) by 19.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,639 shares of the technology company’s stock after purchasing an additional 2,495 shares during the quarter. United Asset Strategies Inc.’s holdings in AT&T were worth $262,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Carmel Capital Partners LLC lifted its holdings in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after buying an additional 1,625 shares in the last quarter. Lipe & Dalton purchased a new position in shares of AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. purchased a new position in shares of AT&T in the third quarter worth $30,000. FWL Investment Management LLC purchased a new position in shares of AT&T in the fourth quarter worth $31,000. Finally, Financial Freedom LLC bought a new stake in AT&T in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

NYSE:T opened at $16.12 on Thursday. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.87. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $115.30 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The company has a 50-day moving average of $17.02 and a 200 day moving average of $16.48.

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

AT&T Announces Dividend

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 issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.89%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Wall Street Analyst Weigh In

T has been the topic of several research reports. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Tigress Financial boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Barclays boosted their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

About AT&T

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.