American Assets Investment Management LLC Buys 20,000 Shares of AT&T (T)

American Assets Investment Management LLC boosted its stake in AT&T (NYSE:T) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 60,000 shares of the technology company’s stock after purchasing an additional 20,000 shares during the period. American Assets Investment Management LLC’s holdings in AT&T were worth $2,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of T. Beach Investment Management LLC. purchased a new stake in AT&T in the 2nd quarter valued at approximately $1,132,000. Strategic Financial Group LLC boosted its holdings in AT&T by 17.1% in the 2nd quarter. Strategic Financial Group LLC now owns 37,206 shares of the technology company’s stock valued at $1,404,000 after purchasing an additional 5,439 shares in the last quarter. Usca Ria LLC boosted its holdings in AT&T by 122.7% in the 2nd quarter. Usca Ria LLC now owns 308,961 shares of the technology company’s stock valued at $11,657,000 after purchasing an additional 170,253 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in AT&T by 7.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 121,021 shares of the technology company’s stock valued at $4,566,000 after purchasing an additional 8,273 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in AT&T by 5.1% in the 2nd quarter. Prudential Financial Inc. now owns 15,562,846 shares of the technology company’s stock valued at $587,186,000 after purchasing an additional 756,200 shares in the last quarter. Hedge funds and other institutional investors own 55.94% of the company’s stock.

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T stock opened at $35.63 on Friday. AT&T has a 1 year low of $32.55 and a 1 year high of $40.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $220,267.33, a P/E ratio of 11.68, a P/E/G ratio of 2.47 and a beta of 0.39.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.13. AT&T had a return on equity of 14.55% and a net margin of 18.34%. The firm had revenue of $41.68 billion for the quarter, compared to analyst estimates of $41.21 billion. During the same quarter in the prior year, the company earned $0.66 EPS. AT&T’s revenue was down .4% on a year-over-year basis. analysts expect that AT&T will post 3.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a $0.50 dividend. The ex-dividend date is Monday, April 9th. This represents a $2.00 annualized dividend and a yield of 5.61%. AT&T’s dividend payout ratio (DPR) is presently 65.57%.

Several equities research analysts have recently commented on the company. Wells Fargo decreased their price target on AT&T from $48.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, March 23rd. Scotiabank set a $40.00 price target on AT&T and gave the stock a “hold” rating in a research note on Tuesday, January 30th. SunTrust Banks boosted their price target on AT&T from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Guggenheim assumed coverage on AT&T in a research note on Tuesday, March 13th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Bank of America boosted their price target on AT&T from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $41.56.

In other AT&T news, EVP John T. Stankey sold 2,307 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $39.21, for a total value of $90,457.47. Following the completion of the transaction, the executive vice president now directly owns 51,672 shares in the company, valued at approximately $2,026,059.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Donovan purchased 27,997 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $35.68 per share, with a total value of $998,932.96. Following the completion of the acquisition, the chief executive officer now directly owns 179,834 shares in the company, valued at approximately $6,416,477.12. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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