AT&T Inc. (NYSE:T) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,049 shares of the technology company’s stock after selling 2,812 shares during the quarter. Lake Street Advisors Group LLC’s holdings in AT&T were worth $1,396,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of T. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new position in AT&T in the 4th quarter valued at $25,000. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the last quarter. First Pacific Financial lifted its stake in shares of AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares during the period. Finally, American Capital Advisory LLC boosted its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.5 %

T opened at $20.97 on Friday. The firm’s 50 day moving average is $19.31 and its 200-day moving average is $18.01. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $21.00. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $150.36 billion, a P/E ratio of 11.27, a P/E/G ratio of 3.47 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.29%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

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.