Harvest Fund Management Co. Ltd Invests $120,000 in AT&T Inc. (NYSE:T)

Harvest Fund Management Co. Ltd purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 4th quarter, Holdings Channel reports. The fund purchased 7,147 shares of the technology company’s stock, valued at approximately $120,000.

Other institutional investors also recently bought and sold shares of the company. Carmel Capital Partners LLC raised its holdings in shares of AT&T by 16,250.0% in the 3rd 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 in the last quarter. Lipe & Dalton acquired a new position in AT&T in the 3rd quarter worth approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of AT&T in the third quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after purchasing an additional 606 shares during the period. Finally, Morton Brown Family Wealth LLC boosted its position in AT&T by 588.2% during the fourth quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,241 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on T shares. Citigroup boosted their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Tigress Financial raised their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Friday, January 19th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Trading Down 1.3 %

NYSE:T opened at $16.59 on Friday. The company has a market cap of $118.63 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $18.16. The business has a 50 day moving average price of $16.97 and a two-hundred day moving average price of $16.54. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’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. As a group, analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.69%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

AT&T Company 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.