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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC bought a new stake in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the second quarter valued at approximately $26,000. Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% during the first 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 increased its position in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Core Alternative Capital increased its position in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. UBS Group set a $33.00 target price on shares of AT&T in a research report on Thursday, September 18th. Barclays reaffirmed an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. Finally, 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 research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Stock Down 1.0%

Shares of T stock opened at $25.85 on Friday. The stock has a market cap of $184.82 billion, a P/E ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $28.45 and its two-hundred day simple moving average is $27.88.

AT&T (NYSE:T) last posted 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 net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

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.