Meritage Portfolio Management Cuts Stock Position in AT&T Inc. (NYSE:T)

Meritage Portfolio Management cut its position in AT&T Inc. (NYSE:T - Free Report) by 52.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,893 shares of the technology company's stock after selling 181,985 shares during the period. Meritage Portfolio Management's holdings in AT&T were worth $2,750,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of T. Carmel Capital Partners LLC raised its holdings in shares of AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company's stock worth $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton acquired a new stake in shares of AT&T during the third quarter worth $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of AT&T during the third quarter worth $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company's stock worth $39,000 after acquiring an additional 606 shares during the period. Finally, Financial Gravity Asset Management Inc. raised its holdings in shares of AT&T by 3,202.4% during the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company's stock worth $41,000 after acquiring an additional 2,626 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of NYSE:T traded down $0.22 during midday trading on Thursday, hitting $16.59. The stock had a trading volume of 46,667,665 shares, compared to its average volume of 39,434,195. The company's 50-day moving average price is $16.97 and its 200-day moving average price is $16.54. The company has a market capitalization of $118.63 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to analysts' expectations of $30.62 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. As a group, equities research analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T's payout ratio is 56.63%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. TheStreet upgraded shares of AT&T from a "c" rating to a "b-" rating in a research note on Wednesday, January 24th. Oppenheimer upgraded shares of AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Barclays lifted their price objective on shares of AT&T from $17.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. raised shares of AT&T from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.81.

AT&T Company 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.