Opinicus Capital Inc. Takes Position in AT&T Inc. (NYSE:T)

Opinicus Capital Inc. bought a new stake in AT&T Inc. (NYSE:T) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,415 shares of the technology company’s stock, valued at approximately $292,000.

A number of other hedge funds have also modified their holdings of T. Carmel Capital Partners LLC boosted its stake in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton purchased a new position in AT&T in the third quarter worth approximately $30,000. Ramirez Asset Management Inc. purchased a new position in AT&T in the third quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its stake in AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock worth $41,000 after acquiring an additional 2,626 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of AT&T stock traded up $0.17 during trading on Friday, reaching $16.75. The company’s stock had a trading volume of 37,852,681 shares, compared to its average volume of 39,190,348. The company has a 50-day moving average price of $16.96 and a two-hundred day moving average price of $16.56. The firm has a market cap of $119.81 billion, a PE ratio of 9.01, a P/E/G ratio of 2.50 and a beta of 0.57. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, analysts forecast that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

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 paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.63%. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a research note on Thursday, April 11th. Scotiabank lifted their price target on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday. Tigress Financial lifted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Friday, January 19th. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

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.