Lantz Financial LLC trimmed its stake in AT&T Inc. (NYSE:T – Free Report) by 10.1% in the second quarter, Holdings Channel reports. The firm owned 19,510 shares of the technology company’s stock after selling 2,186 shares during the quarter. Lantz Financial LLC’s holdings in AT&T were worth $373,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Cantor Fitzgerald Investment Advisors L.P. bought a new position in AT&T during the 4th quarter worth $11,554,000. Clearbridge Investments LLC increased its stake in AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares during the period. Skopos Labs Inc. acquired a new position in AT&T in the 4th quarter valued at $839,000. M&G Plc bought a new stake in shares of AT&T during the 1st quarter valued at $9,074,000. Finally, Foundations Investment Advisors LLC grew its holdings in shares of AT&T by 115.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 196,236 shares of the technology company’s stock worth $3,540,000 after purchasing an additional 105,284 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.
AT&T Stock Up 1.0 %
AT&T stock opened at $21.71 on Wednesday. The firm has a market cap of $155.66 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.57 and a beta of 0.59. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $21.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a 50 day moving average price of $19.42 and a two-hundred day moving average price of $18.09.
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. Equities analysts predict that AT&T Inc. will post 2.2 EPS for the current year.
AT&T Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.11%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.
Analysts Set New Price Targets
T has been the subject of several analyst reports. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Evercore ISI boosted their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $22.06.
Get Our Latest Stock Analysis on AT&T
AT&T Company Profile
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.
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