Mine & Arao Wealth Creation & Management LLC. Has $171,000 Stake in AT&T Inc. (NYSE:T)

Mine & Arao Wealth Creation & Management LLC. raised its holdings in AT&T Inc. (NYSE:T) by 26.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,197 shares of the technology company’s stock after acquiring an additional 2,163 shares during the quarter. Mine & Arao Wealth Creation & Management LLC.’s holdings in AT&T were worth $171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC increased its stake in AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after buying an additional 1,625 shares during the last quarter. Lipe & Dalton acquired a new stake in AT&T in the 3rd quarter valued at $30,000. Ramirez Asset Management Inc. acquired a new stake in AT&T in the 3rd quarter valued at $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its position in shares of AT&T by 3,202.4% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. 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. Citigroup lifted their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Performance

Shares of T stock traded up $0.15 during midday trading on Wednesday, hitting $17.04. 21,494,573 shares of the company were exchanged, compared to its average volume of 39,139,637. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The firm has a market capitalization of $121.88 billion, a P/E ratio of 9.12, a PEG ratio of 3.38 and a beta of 0.57. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $18.16. The firm’s 50 day moving average price is $16.97 and its two-hundred day moving average price is $16.62.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. As a group, equities research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.51%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is presently 59.68%.

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.