LS Investment Advisors LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 73.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,128 shares of the technology company’s stock after selling 338,136 shares during the period. LS Investment Advisors LLC’s holdings in AT&T were worth $3,486,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in T. BlackRock Inc. boosted its stake in shares of AT&T by 3.4% in the second quarter. BlackRock Inc. now owns 508,851,017 shares of the technology company’s stock worth $14,644,734,000 after buying an additional 16,734,100 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of AT&T by 119.8% during the 1st quarter. Franklin Resources Inc. now owns 27,173,122 shares of the technology company’s stock worth $822,532,000 after acquiring an additional 14,811,593 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of AT&T by 536.2% during the 1st quarter. Renaissance Technologies LLC now owns 12,841,586 shares of the technology company’s stock valued at $388,715,000 after acquiring an additional 10,823,100 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of AT&T by 604.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,092,813 shares of the technology company’s stock valued at $184,429,000 after purchasing an additional 5,227,851 shares in the last quarter. Finally, Cullen Capital Management LLC increased its stake in shares of AT&T by 297.5% in the 1st quarter. Cullen Capital Management LLC now owns 5,367,698 shares of the technology company’s stock valued at $162,480,000 after purchasing an additional 4,017,363 shares in the last quarter. Hedge funds and other institutional investors own 51.61% of the company’s stock.
A number of brokerages have recently issued reports on T. Argus lowered AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target on the stock. in a research note on Tuesday, July 27th. Morgan Stanley lowered AT&T to an “equal weight” rating and set a $29.00 price objective on the stock. in a research note on Friday, July 16th. Citigroup decreased their price target on AT&T from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, August 31st. Loop Capital initiated coverage on AT&T in a report on Monday. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.10.
AT&T (NYSE:T) last announced its earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The firm had revenue of $44.05 billion during the quarter, compared to the consensus estimate of $42.39 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 3.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, July 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.64%. AT&T’s payout ratio is presently 65.41%.
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
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