Lucas Capital Management decreased its position in shares of AT&T Inc. (NYSE:T) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 58,435 shares of the technology company’s stock after selling 1,047 shares during the period. AT&T accounts for about 2.8% of Lucas Capital Management’s holdings, making the stock its 12th largest position. Lucas Capital Management’s holdings in AT&T were worth $2,211,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horan Securities Inc. raised its position in AT&T by 439.2% in the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after purchasing an additional 830 shares in the last quarter. Next Capital Management LLC acquired a new stake in AT&T in the 2nd quarter valued at about $39,000. Contravisory Investment Management Inc. raised its position in AT&T by 36.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares in the last quarter. Centaurus Financial Inc. raised its position in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Clear Investment Research LLC raised its position in AT&T by 3,051.9% in the 2nd quarter. Clear Investment Research LLC now owns 1,702 shares of the technology company’s stock valued at $57,000 after purchasing an additional 1,648 shares in the last quarter. 53.06% of the stock is currently owned by hedge funds and other institutional investors.
T has been the topic of a number of analyst reports. Bank of America reaffirmed a “buy” rating on shares of AT&T in a research report on Monday, September 9th. Morgan Stanley set a $37.00 price target on AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Barclays increased their price target on AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. They noted that the move was a valuation call. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $40.00 price target (up previously from $35.00) on shares of AT&T in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.28.
AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The business had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. During the same quarter last year, the company earned $0.91 EPS. The business’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Wednesday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
In related news, CEO John T. Stankey sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the transaction, the chief executive officer now owns 2,366 shares in the company, valued at approximately $80,798.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by company insiders.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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