Peregrine Asset Advisers Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Peregrine Asset Advisers Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 10.7% in the fourth quarter, HoldingsChannel reports. The fund owned 10,842 shares of the technology company’s stock after selling 1,297 shares during the period. Peregrine Asset Advisers Inc.’s holdings in AT&T were worth $182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of T. Carmel Capital Partners LLC boosted its position in AT&T by 16,250.0% during 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 period. Lipe & Dalton bought a new stake in shares of AT&T in the third quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new position in AT&T during the 3rd quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in AT&T by 35.3% during 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 purchasing an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its holdings in 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 worth $41,000 after buying an additional 2,626 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Citigroup upped their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Monday, April 29th. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Stock Up 0.6 %

Shares of T traded up $0.10 during trading hours on Tuesday, hitting $17.09. The company had a trading volume of 28,082,469 shares, compared to its average volume of 38,812,934. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The firm has a fifty day moving average price of $16.98 and a 200-day moving average price of $16.69. The stock has a market capitalization of $122.50 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 3.32 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

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. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same period last year, the business posted $0.60 EPS. The company’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 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.