Callan Capital LLC Acquires New Stake in AT&T Inc. (NYSE:T)

Callan Capital LLC acquired a new stake in AT&T Inc. (NYSE:T) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,537 shares of the technology company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in AT&T during the 3rd quarter worth about $802,000. Ramirez Asset Management Inc. acquired a new stake in AT&T during the 3rd quarter worth about $30,000. Financial Gravity Asset Management Inc. grew its holdings in AT&T by 3,202.4% during the 3rd 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 period. Integrated Advisors Network LLC grew its holdings in AT&T by 42.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 64,724 shares of the technology company’s stock worth $972,000 after acquiring an additional 19,158 shares during the period. Finally, Schubert & Co grew its holdings in AT&T by 2.0% during the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock worth $486,000 after acquiring an additional 631 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of AT&T stock traded down $0.07 during mid-day trading on Wednesday, hitting $18.74. 29,826,927 shares of the stock were exchanged, compared to its average volume of 36,449,020. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.32. The company has a 50-day simple moving average of $17.87 and a 200 day simple moving average of $17.29. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The company has a market capitalization of $134.33 billion, a P/E ratio of 10.06, a P/E/G ratio of 3.55 and a beta of 0.58.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter last year, the firm earned $0.60 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.92%. AT&T’s payout ratio is currently 59.68%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on T shares. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price objective on shares of AT&T in a research report on Wednesday. UBS Group reissued a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $21.85.

AT&T Profile

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.