Scissortail Wealth Management LLC Acquires Shares of 101,008 AT&T Inc. (NYSE:T)

Scissortail Wealth Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 101,008 shares of the technology company’s stock, valued at approximately $1,742,000.

A number of other institutional investors also recently modified their holdings of T. Carmel Capital Partners LLC raised its holdings in shares of 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 worth $25,000 after buying an additional 1,625 shares in the last quarter. Lipe & Dalton acquired a new position in AT&T in the 3rd quarter worth about $30,000. Ramirez Asset Management Inc. acquired a new position in AT&T in the 3rd quarter worth about $30,000. FWL Investment Management LLC acquired a new position in AT&T in the 4th quarter worth about $31,000. Finally, Financial Freedom LLC acquired a new position in AT&T in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T traded down $0.15 on Tuesday, reaching $16.09. 49,169,633 shares of the company’s stock traded hands, compared to its average volume of 38,659,406. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market cap of $115.09 billion, a PE ratio of 8.16, a PEG ratio of 2.46 and a beta of 0.57. The stock’s 50 day simple moving average is $17.07 and its two-hundred day simple moving average is $16.48. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.92.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.90%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 56.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Tigress Financial upped their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upgraded AT&T from a “neutral” rating to an “overweight” rating and upped their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Finally, Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Friday, January 19th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.68.

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.