Gemmer Asset Management LLC Purchases Shares of 10,223 AT&T Inc. (NYSE:T)

Gemmer Asset Management LLC bought a new position in AT&T Inc. (NYSE:T) in the 4th quarter, Holdings Channel reports. The firm bought 10,223 shares of the technology company’s stock, valued at approximately $233,000.

Several other large investors have also modified their holdings of T. Davidson Kempner Capital Management LP purchased a new position in AT&T during the second quarter valued at approximately $23,888,000. International Assets Investment Management LLC bought a new stake in AT&T during the 4th quarter valued at $14,700,000. Swiss National Bank increased its holdings in shares of AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares during the period. Franklin Resources Inc. raised its position in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares in the last quarter. Finally, Caprock Group LLC boosted its position in AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on T shares. Royal Bank of Canada raised shares of AT&T from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $22.00 to $26.00 in a report on Monday, January 6th. Oppenheimer initiated coverage on AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. JPMorgan Chase & Co. increased their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Tigress Financial boosted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Trading Up 1.2 %

Shares of T stock opened at $22.30 on Monday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The firm has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a PEG ratio of 3.46 and a beta of 0.59. The stock’s fifty day moving average is $22.79 and its two-hundred day moving average is $21.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. Research analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

AT&T Company 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.