LRI Investments LLC Lowers Stock Position in AT&T Inc. $T

LRI Investments LLC decreased its position in AT&T Inc. (NYSE:T) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,378 shares of the technology company’s stock after selling 2,265 shares during the quarter. LRI Investments LLC’s holdings in AT&T were worth $879,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of AT&T during the 1st quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T during the 2nd quarter valued at approximately $26,000. Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank grew its stake in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the last quarter. Finally, Core Alternative Capital grew its stake in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $25.85 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business has a 50-day simple moving average of $28.45 and a 200 day simple moving average of $27.88. The firm has a market capitalization of $184.82 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on T shares. Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Barclays reissued an “equal weight” rating and set a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Morgan Stanley boosted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, UBS Group set a $33.00 price objective on AT&T in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.75.

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.