AT&T Inc. (NYSE:T) Position Lessened by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in shares of AT&T Inc. (NYSE:T) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,468,057 shares of the technology company’s stock after selling 58,428 shares during the period. 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 hedge funds also recently bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in AT&T during the fourth quarter worth $25,000. Pineridge Advisors LLC acquired a new stake in AT&T in the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Finally, American Capital Advisory LLC lifted its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.7 %

T opened at $21.52 on Friday. The firm’s 50-day simple moving average is $19.88 and its 200-day simple moving average is $18.34. The firm has a market cap of $154.30 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 3.79 and a beta of 0.59. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period last year, the company earned $0.63 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

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 5.16%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on T shares. Evercore ISI raised their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. One equities research 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. According to MarketBeat.com, AT&T has a consensus rating of “Hold” and a consensus target price of $22.31.

AT&T Company 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.