Lockheed Martin Investment Management Co. Sells 164,000 Shares of AT&T Inc. (NYSE:T)

Lockheed Martin Investment Management Co. decreased its position in shares of AT&T Inc. (NYSE:TGet Rating) by 30.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 377,300 shares of the technology company’s stock after selling 164,000 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in AT&T were worth $7,908,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in T. Gateway Investment Advisers LLC boosted its holdings in AT&T by 31.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 494,420 shares of the technology company’s stock worth $10,363,000 after acquiring an additional 117,090 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in AT&T by 99.1% in the 2nd quarter. Exchange Traded Concepts LLC now owns 13,821 shares of the technology company’s stock valued at $290,000 after acquiring an additional 6,879 shares during the period. Lazard Asset Management LLC increased its position in shares of AT&T by 4.3% during the second quarter. Lazard Asset Management LLC now owns 680,375 shares of the technology company’s stock valued at $14,259,000 after buying an additional 28,210 shares during the period. Castle Rock Wealth Management LLC bought a new stake in shares of AT&T during the second quarter valued at about $230,000. Finally, Elo Mutual Pension Insurance Co increased its position in shares of AT&T by 0.3% during the first quarter. Elo Mutual Pension Insurance Co now owns 536,871 shares of the technology company’s stock valued at $12,686,000 after buying an additional 1,471 shares during the period. Institutional investors own 52.88% of the company’s stock.

AT&T Stock Up 0.5 %

Shares of NYSE:T traded up $0.09 on Thursday, hitting $19.09. 21,486,024 shares of the company traded hands, compared to its average volume of 43,963,416. AT&T Inc. has a 52 week low of $14.46 and a 52 week high of $21.53. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 0.88. The stock has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $18.60. The company has a market cap of $136.05 billion, a PE ratio of 7.07, a PEG ratio of 2.15 and a beta of 0.61.

AT&T (NYSE:TGet Rating) last released its quarterly earnings data on Thursday, October 20th. The technology company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. AT&T had a return on equity of 13.24% and a net margin of 14.44%. The company had revenue of $30.04 billion for the quarter, compared to analysts’ expectations of $29.86 billion. During the same period last year, the firm posted $0.87 earnings per share. AT&T’s revenue was down 4.1% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.64 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 6th. This represents a $1.11 annualized dividend and a dividend yield of 5.81%. AT&T’s dividend payout ratio (DPR) is presently 41.11%.

Wall Street Analysts Forecast Growth

T has been the topic of several research analyst reports. Barclays upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, October 24th. Truist Financial raised AT&T from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday, October 21st. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, October 21st. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a report on Friday, October 28th. Finally, Royal Bank of Canada decreased their target price on AT&T from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Friday, October 21st. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.50.

AT&T Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

Further Reading

Institutional Ownership by Quarter for AT&T (NYSE:T)

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