King Luther Capital Management Corp Has $28.06 Million Stock Position in AT&T Inc. (NYSE:T)

King Luther Capital Management Corp lessened its stake in AT&T Inc. (NYSE:T) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,468,057 shares of the technology company’s stock after selling 58,428 shares during the quarter. King Luther Capital Management Corp’s holdings in AT&T were worth $28,055,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. increased its position in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new stake in AT&T in the fourth quarter valued at about $25,000. American Capital Advisory LLC grew its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on T. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Finally, TD Cowen lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.31.

AT&T Stock Up 0.7 %

AT&T stock opened at $21.52 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average price is $19.88 and its two-hundred day moving average price is $18.34. The firm has a market capitalization of $154.30 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

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, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

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.