Lincoln National Corp Has $2.92 Million Stake in AT&T Inc. (NYSE:T)

Lincoln National Corp lowered its holdings in shares of AT&T Inc. (NYSE:T) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 173,945 shares of the technology company’s stock after selling 5,651 shares during the quarter. Lincoln National Corp’s holdings in AT&T were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of AT&T by 35.3% during 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 purchasing an additional 606 shares in the last quarter. JB Capital LLC grew its stake in AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock valued at $447,000 after acquiring an additional 614 shares in the last quarter. Connecticut Wealth Management LLC increased its holdings in AT&T by 3.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after acquiring an additional 620 shares during the last quarter. Adell Harriman & Carpenter Inc. lifted its stake in AT&T by 0.6% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 111,852 shares of the technology company’s stock worth $1,877,000 after purchasing an additional 630 shares in the last quarter. Finally, Schubert & Co boosted its holdings in shares of AT&T by 2.0% during the 3rd quarter. Schubert & Co now owns 32,333 shares of the technology company’s stock valued at $486,000 after purchasing an additional 631 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.5 %

Shares of NYSE:T traded up $0.09 on Tuesday, reaching $17.08. The company had a trading volume of 27,743,061 shares, compared to its average volume of 38,812,934. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $122.47 billion, a PE ratio of 9.18, a PEG ratio of 3.32 and a beta of 0.57. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16. The firm’s 50 day simple moving average is $16.98 and its 200-day simple moving average is $16.68.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, analysts expect that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 annualized dividend and a yield of 6.50%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Monday, April 29th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Scotiabank lifted their price objective 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, April 25th. Finally, Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

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.