Adell Harriman & Carpenter Inc. Grows Stake in AT&T Inc. (NYSE:T)

Adell Harriman & Carpenter Inc. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,852 shares of the technology company’s stock after buying an additional 630 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in AT&T were worth $1,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sora Investors LLC purchased a new position in shares of AT&T during the 3rd quarter valued at about $11,265,000. Robeco Institutional Asset Management B.V. boosted its position in AT&T by 2.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock valued at $259,219,000 after acquiring an additional 383,015 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in AT&T by 3.1% in the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after purchasing an additional 1,178 shares during the period. Retireful LLC purchased a new position in AT&T during the 4th quarter valued at about $1,163,000. Finally, Terril Brothers Inc. grew its position in AT&T by 51.6% during the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after purchasing an additional 202,637 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Stock Performance

AT&T stock traded down $0.16 during mid-day trading on Tuesday, hitting $16.86. The company had a trading volume of 2,897,491 shares, compared to its average volume of 39,007,586. The company’s fifty day moving average is $16.97 and its 200-day moving average is $16.60. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a market capitalization of $120.60 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same period last year, the firm posted $0.60 EPS. The company’s revenue was down .4% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.58%. AT&T’s dividend payout ratio is presently 59.68%.

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.