Orca Wealth Management LLC Makes New $732,000 Investment in AT&T Inc. (NYSE:T)

Orca Wealth Management LLC bought a new position in shares of AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 32,142 shares of the technology company’s stock, valued at approximately $732,000.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $14,700,000. Swiss National Bank lifted its position in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Caprock Group LLC lifted its position in shares of AT&T by 18.3% during the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock worth $4,312,000 after buying an additional 30,281 shares in the last quarter. Finally, Talbot Financial LLC bought a new stake in shares of AT&T in the 3rd quarter worth approximately $7,438,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on T shares. Citigroup lifted their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Sanford C. Bernstein lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group lifted their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays lifted their price objective on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $26.06.

AT&T Stock Performance

AT&T stock opened at $24.43 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $175.26 billion, a PE ratio of 19.86, a P/E/G ratio of 3.50 and a beta of 0.59. The firm has a fifty day simple moving average of $22.83 and a two-hundred day simple moving average of $21.51. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.58.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. Research analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, January 10th. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.