Choreo LLC Buys 33,091 Shares of AT&T Inc. (NYSE:T)

Choreo LLC grew its stake in AT&T Inc. (NYSE:T) by 42.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 111,390 shares of the technology company’s stock after purchasing an additional 33,091 shares during the quarter. Choreo LLC’s holdings in AT&T were worth $1,869,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its position 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 purchasing an additional 606 shares in the last quarter. JB Capital LLC raised its holdings in AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after acquiring an additional 614 shares in the last quarter. Schubert & Co raised its holdings in AT&T by 2.0% in the third quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after acquiring an additional 631 shares in the last quarter. MBM Wealth Consultants LLC raised its holdings in AT&T by 4.5% in the fourth quarter. MBM Wealth Consultants LLC now owns 15,637 shares of the technology company’s stock valued at $270,000 after acquiring an additional 678 shares in the last quarter. Finally, Wealthstar Advisors LLC raised its holdings in AT&T by 5.9% in the fourth quarter. Wealthstar Advisors LLC now owns 12,566 shares of the technology company’s stock valued at $211,000 after acquiring an additional 700 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of T opened at $16.90 on Wednesday. The firm has a 50-day moving average price of $16.97 and a 200 day moving average price of $16.62. The firm has a market capitalization of $120.85 billion, a PE ratio of 9.08, a P/E/G ratio of 3.38 and a beta of 0.57. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.57%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analysts Set New Price Targets

Several analysts recently issued reports on T shares. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Citigroup upped their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Scotiabank increased their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

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.