Linscomb Wealth Inc. Reduces Position in AT&T Inc. (NYSE:T)

Linscomb Wealth Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 6.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 36,667 shares of the technology company’s stock after selling 2,580 shares during the quarter. Linscomb Wealth Inc.’s holdings in AT&T were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $213,000. FIL Ltd raised its holdings in AT&T by 6.7% during the fourth quarter. FIL Ltd now owns 46,158 shares of the technology company’s stock worth $1,051,000 after purchasing an additional 2,897 shares during the last quarter. Covestor Ltd raised its holdings in AT&T by 50.7% during the fourth quarter. Covestor Ltd now owns 4,058 shares of the technology company’s stock worth $93,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Advisors Capital Management LLC raised its holdings in AT&T by 54.6% during the fourth quarter. Advisors Capital Management LLC now owns 18,850 shares of the technology company’s stock worth $429,000 after purchasing an additional 6,657 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2%

NYSE:T opened at $28.15 on Tuesday. The firm has a market capitalization of $201.28 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42. The stock has a 50 day moving average of $27.84 and a 200-day moving average of $27.11. AT&T Inc. has a 52 week low of $18.97 and a 52 week high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $30.44 billion. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Tigress Financial lifted their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Scotiabank boosted their price target on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.66.

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.