Callan Capital LLC Takes Position in AT&T Inc. (NYSE:T)

Callan Capital LLC purchased a new stake in AT&T Inc. (NYSE:T) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,537 shares of the technology company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC bought a new position in shares of AT&T in the 4th quarter valued at $25,000. Frank Rimerman Advisors LLC bought a new position in shares of AT&T in the 4th quarter valued at $25,000. First Pacific Financial grew its position in AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares during the last quarter. Ramirez Asset Management Inc. bought a new stake in AT&T during the 3rd quarter worth $30,000. Finally, HighMark Wealth Management LLC grew its position in AT&T by 58.2% during the 1st quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after acquiring an additional 811 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on T. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price target on shares of AT&T in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target on shares of AT&T in a research note on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.85.

AT&T Stock Down 0.3 %

T traded down $0.07 during midday trading on Wednesday, reaching $18.74. 29,826,927 shares of the company were exchanged, compared to its average volume of 36,449,020. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company’s fifty day moving average price is $17.87 and its 200 day moving average price is $17.29. The company has a market cap of $134.33 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. AT&T Inc. has a one year low of $13.43 and a one year high of $19.32.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, analysts expect that AT&T Inc. will post 2.23 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

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.