Harmony Asset Management LLC Purchases 23,830 Shares of AT&T Inc. (NYSE:T)

Harmony Asset Management LLC increased its stake in AT&T Inc. (NYSE:T - Free Report) by 165.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,269 shares of the technology company's stock after buying an additional 23,830 shares during the period. Harmony Asset Management LLC's holdings in AT&T were worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of T. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $25,000. Marshall Investment Management LLC bought a new stake in AT&T during the fourth quarter worth about $28,000. YANKCOM Partnership bought a new stake in AT&T during the fourth quarter worth about $30,000. Tradewinds Capital Management LLC grew its holdings in AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after purchasing an additional 430 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new position in shares of AT&T during the fourth quarter valued at approximately $34,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of AT&T stock traded up $0.22 during trading hours on Friday, reaching $27.45. 31,763,115 shares of the stock traded hands, compared to its average volume of 36,763,597. AT&T Inc. has a one year low of $17.11 and a one year high of $29.03. The firm has a market capitalization of $197.50 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $27.29 and a 200 day moving average price of $25.05.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. AT&T's dividend payout ratio is currently 68.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Monday, April 7th. Sanford C. Bernstein boosted their target price on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price target for the company in a report on Thursday, February 13th. TD Securities upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average price target of $28.71.

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.