Gallacher Capital Management LLC Purchases Shares of 58,186 AT&T Inc. (NYSE:T)

Gallacher Capital Management LLC purchased a new stake in AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 58,186 shares of the technology company’s stock, valued at approximately $976,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of T. TCI Wealth Advisors Inc. lifted its stake in AT&T by 1.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 51,685 shares of the technology company’s stock valued at $867,000 after buying an additional 707 shares in the last quarter. Connecticut Wealth Management LLC lifted its stake in AT&T by 3.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after buying an additional 620 shares in the last quarter. Forte Capital LLC ADV purchased a new stake in AT&T during the fourth quarter valued at about $253,000. Vestmark Advisory Solutions Inc. lifted its stake in AT&T by 5.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 12,570 shares of the technology company’s stock valued at $211,000 after buying an additional 633 shares in the last quarter. Finally, Royal Fund Management LLC lifted its stake in AT&T by 1.1% during the fourth quarter. Royal Fund Management LLC now owns 182,783 shares of the technology company’s stock valued at $3,067,000 after buying an additional 2,053 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research reports. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Scotiabank increased their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Tigress Financial increased their price objective on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Price Performance

NYSE:T traded up $0.03 during mid-day trading on Friday, hitting $16.85. The company’s stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The company has a market capitalization of $120.52 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The stock has a fifty day moving average of $16.97 and a 200-day moving average of $16.67.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.59%. AT&T’s payout ratio is 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.