Convergence Investment Partners LLC Purchases 37,410 Shares of AT&T Inc. (NYSE:T)

Convergence Investment Partners LLC raised its position in shares of AT&T Inc. (NYSE:T) by 37.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 138,144 shares of the technology company’s stock after purchasing an additional 37,410 shares during the quarter. AT&T accounts for approximately 1.2% of Convergence Investment Partners LLC’s holdings, making the stock its 22nd biggest position. Convergence Investment Partners LLC’s holdings in AT&T were worth $2,318,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA raised its stake 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 valued at $39,000 after purchasing an additional 606 shares in the last quarter. JB Capital LLC lifted its position in AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the period. Schubert & Co increased its holdings in shares of 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 buying an additional 631 shares in the last quarter. MBM Wealth Consultants LLC increased its holdings in shares of 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 buying an additional 678 shares in the last quarter. Finally, Wealthstar Advisors LLC increased its holdings in shares of 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 buying an additional 700 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on T shares. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. StockNews.com upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Thursday. Scotiabank upped their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday. Finally, Citigroup upped 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Up 1.0 %

T stock traded up $0.17 during midday trading on Friday, hitting $16.75. The company’s stock had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.67. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The company’s fifty day moving average price is $16.96 and its 200 day moving average price is $16.57. The stock has a market capitalization of $119.81 billion, a P/E ratio of 9.01, a PEG ratio of 2.53 and a beta of 0.57.

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 predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

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.