Lockheed Martin Investment Management Co. Trims Stock Position in AT&T Inc. $T

Lockheed Martin Investment Management Co. decreased its position in AT&T Inc. (NYSE:T) by 32.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 719,400 shares of the technology company’s stock after selling 348,600 shares during the period. Lockheed Martin Investment Management Co.’s holdings in AT&T were worth $20,316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Front Row Advisors LLC purchased a new position in AT&T in the second quarter worth approximately $25,000. Mountain Hill Investment Partners Corp. grew its holdings in shares of AT&T by 363.7% during the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock worth $25,000 after purchasing an additional 702 shares during the period. Kennebec Savings Bank increased its position in shares of 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 purchasing an additional 783 shares during the last quarter. Solstein Capital LLC increased its position in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Finally, Curio Wealth LLC raised its holdings in AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after buying an additional 1,044 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.4%

T opened at $23.59 on Friday. AT&T Inc. has a 12 month low of $22.22 and a 12 month high of $29.79. The stock has a market capitalization of $167.24 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 1.28 and a beta of 0.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The business has a fifty day moving average price of $24.66 and a 200 day moving average price of $26.48.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter last year, the company earned $0.60 EPS. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.7%. AT&T’s dividend payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Barclays dropped their target price on shares of AT&T from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Williams Trading set a $33.00 price target on AT&T in a research note on Thursday, October 23rd. Wall Street Zen lowered AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $29.50 price objective on shares of AT&T in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.