Greenleaf Trust Raises Holdings in AT&T Inc. (NYSE:T)

Greenleaf Trust increased its position in AT&T Inc. (NYSE:T) by 45.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,437 shares of the technology company’s stock after buying an additional 42,547 shares during the period. Greenleaf Trust’s holdings in AT&T were worth $2,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Carmel Capital Partners LLC raised its position in shares of AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares in the last quarter. Lipe & Dalton bought a new stake in AT&T during the third quarter worth approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T during the third quarter valued at approximately $30,000. FWL Investment Management LLC bought a new stake in shares of AT&T in the 4th quarter valued at approximately $31,000. Finally, Financial Freedom LLC purchased a new position in shares of AT&T in the 4th quarter worth approximately $34,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on T shares. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, January 19th. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.68.

AT&T Stock Performance

Shares of T stock traded up $0.18 during mid-day trading on Friday, reaching $16.51. The stock had a trading volume of 45,820,353 shares, compared to its average volume of 33,811,916. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $18.72. The firm has a market cap of $118.09 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 2.46 and a beta of 0.57. 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 business’s fifty day moving average is $17.00 and its 200-day moving average is $16.49.

AT&T (NYSE:T) last issued 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). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. During the same quarter last year, the company posted $0.61 EPS. AT&T’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. 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%.

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.