AT&T Inc. (NYSE:T) Shares Purchased by LHM Inc.

LHM Inc. boosted its stake in shares of AT&T Inc. (NYSE:T) by 36.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 327,261 shares of the technology company’s stock after buying an additional 86,590 shares during the quarter. AT&T accounts for approximately 2.6% of LHM Inc.’s portfolio, making the stock its 6th largest holding. LHM Inc.’s holdings in AT&T were worth $6,254,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP acquired a new position in shares of AT&T during the 2nd quarter worth $23,888,000. Mackenzie Financial Corp grew its stake in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares during the last quarter. DRW Securities LLC increased its holdings in AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of AT&T in the first quarter valued at approximately $9,074,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.4 %

T opened at $21.99 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $157.64 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The business has a 50-day moving average of $20.21 and a two-hundred day moving average of $18.54. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting 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 analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on T shares. 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 report on Thursday, August 15th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. 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 report on Thursday, July 25th. Finally, Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Hold” and a consensus target price of $22.38.

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.