Kraft Davis & Associates LLC Makes New $302,000 Investment in AT&T Inc. (NYSE:T)

Kraft Davis & Associates LLC bought a new position in AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 17,543 shares of the technology company’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of AT&T by 0.5% in the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after buying an additional 1,567,008 shares during the last quarter. Newport Trust Company LLC lifted its position in AT&T by 0.3% during the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares in the last quarter. Morgan Stanley lifted its position in AT&T by 37.3% during the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in AT&T by 85,003.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after purchasing an additional 76,746,649 shares in the last quarter. Finally, Northern Trust Corp lifted its position in AT&T by 2.5% during the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after purchasing an additional 1,828,237 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.1 %

AT&T stock traded up $0.18 during mid-day trading on Friday, reaching $16.51. 45,814,895 shares of the company were exchanged, compared to its average volume of 38,577,504. The business has a fifty day moving average of $17.00 and a 200 day moving average of $16.49. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market cap of $118.09 billion, a P/E ratio of 8.42, a PEG ratio of 2.43 and a beta of 0.57. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.72.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. Research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared 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. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is presently 56.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on T shares. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Citigroup boosted their price objective on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. 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 report on Thursday, January 25th. Finally, Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T 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.