Callan Family Office LLC Purchases New Position in AT&T Inc. (NYSE:T)

Callan Family Office LLC acquired a new stake in shares of AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 50,247 shares of the technology company’s stock, valued at approximately $1,144,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares in the last quarter. FMR LLC increased its position in AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after buying an additional 1,149,688 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AT&T by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 53,057,676 shares of the technology company’s stock valued at $1,208,123,000 after buying an additional 414,984 shares in the last quarter. Finally, Swiss National Bank raised its holdings in AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, January 29th. UBS Group upped their target price on AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Scotiabank lifted their price target on shares of AT&T from $26.00 to $28.50 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Barclays boosted their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.74.

AT&T Price Performance

Shares of T stock opened at $27.15 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $27.97. The company has a market capitalization of $194.85 billion, a P/E ratio of 18.22, a P/E/G ratio of 3.00 and a beta of 0.56. The stock has a 50 day moving average of $24.30 and a two-hundred day moving average of $22.82. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

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.