Palouse Capital Management Inc. Has $2.01 Million Stock Position in AT&T Inc. (NYSE:T)

Palouse Capital Management Inc. lessened its position in shares of AT&T Inc. (NYSE:T) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,009 shares of the technology company’s stock after selling 1,008 shares during the quarter. Palouse Capital Management Inc.’s holdings in AT&T were worth $2,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. LSV Asset Management raised its holdings in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the period. Finally, State of Michigan Retirement System boosted its stake in AT&T by 9.0% in the 2nd quarter. State of Michigan Retirement System now owns 20,072,613 shares of the technology company’s stock valued at $383,588,000 after buying an additional 1,662,100 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Citigroup raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. boosted their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.31.

AT&T Stock Performance

Shares of NYSE:T opened at $21.74 on Thursday. The stock has a market capitalization of $155.84 billion, a P/E ratio of 11.69, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The business has a 50-day moving average price of $19.78 and a two-hundred day moving average price of $18.28.

AT&T (NYSE:T) last posted its 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 return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) 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.