Meyer Handelman Co. Has $1.40 Million Position in AT&T Inc. (NYSE:T)

Meyer Handelman Co. reduced its stake in shares of AT&T Inc. (NYSE:T) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,433 shares of the technology company’s stock after selling 2,419 shares during the quarter. Meyer Handelman Co.’s holdings in AT&T were worth $1,398,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Capital A Wealth Management LLC bought a new position in AT&T during the fourth quarter valued at approximately $25,000. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in AT&T during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC bought a new position in AT&T during the fourth quarter valued at approximately $28,000. Finally, Tradewinds Capital Management LLC raised its position in AT&T by 48.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock valued at $30,000 after acquiring an additional 430 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on T shares. Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Oppenheimer boosted their price objective on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Barclays boosted their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Williams Trading set a $30.00 price objective on shares of AT&T in a research note on Thursday, April 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Trading Up 1.3%

Shares of T stock opened at $27.73 on Friday. The firm has a fifty day moving average of $27.36 and a 200-day moving average of $25.29. The stock has a market cap of $199.53 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 3.00 and a beta of 0.42. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. AT&T’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

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.