Los Angeles Capital Management LLC Has $21.10 Million Position in AT&T Inc. (NYSE:T)

Los Angeles Capital Management LLC cut its holdings in AT&T Inc. (NYSE:T) by 9.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,104,101 shares of the technology company’s stock after selling 118,524 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AT&T were worth $21,099,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Octavia Wealth Advisors LLC lifted its holdings in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares during the last quarter. WealthCare Investment Partners LLC boosted its position in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after buying an additional 525 shares in the last quarter. Integral Investment Advisors Inc. grew its stake in shares of AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares during the last quarter. Financial Counselors Inc. increased its holdings in shares of AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after buying an additional 539 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of AT&T by 1.3% during the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after buying an additional 559 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 1.5 %

NYSE:T opened at $20.97 on Friday. AT&T Inc. has a one year low of $14.12 and a one year high of $21.00. The company has a market cap of $150.36 billion, a PE ratio of 11.27, a PEG ratio of 3.47 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a 50-day moving average of $19.31 and a 200-day moving average of $18.01.

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

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on T shares. Royal Bank of Canada boosted their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T 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.