Lakeshore Capital Group Inc. Has $1.14 Million Stock Holdings in AT&T Inc. (NYSE:T)

Lakeshore Capital Group Inc. raised its stake in AT&T Inc. (NYSE:T) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,438 shares of the technology company’s stock after buying an additional 662 shares during the period. Lakeshore Capital Group Inc.’s holdings in AT&T were worth $1,144,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after buying an additional 6,220,442 shares in the last quarter. Geode Capital Management LLC boosted its position in AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after buying an additional 2,640,644 shares in the last quarter. GQG Partners LLC boosted its position in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after buying an additional 26,280,866 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after buying an additional 5,649,277 shares in the last quarter. Finally, Norges Bank acquired a new stake in AT&T in the fourth quarter valued at approximately $1,858,418,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $27.99 on Wednesday. AT&T Inc. has a twelve month low of $17.42 and a twelve month high of $29.03. The firm has a fifty day simple moving average of $27.36 and a 200 day simple moving average of $25.37. The company has a market capitalization of $201.42 billion, a PE ratio of 18.79, a P/E/G ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.97%. The ex-dividend date was Thursday, April 10th. AT&T’s dividend payout ratio (DPR) is currently 68.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on T. Barclays raised their target price on shares of AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Tigress Financial raised their price target on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T 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.