LHM Inc. Has $1.60 Million Stock Position in AT&T Inc. (NYSE:T)

LHM Inc. lowered its stake in AT&T Inc. (NYSE:T) by 65.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,725 shares of the technology company’s stock after selling 156,946 shares during the period. AT&T accounts for 0.6% of LHM Inc.’s holdings, making the stock its 13th largest holding. LHM Inc.’s holdings in AT&T were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cowa LLC lifted its holdings in shares of AT&T by 70.9% during the second quarter. Cowa LLC now owns 45,760 shares of the technology company’s stock worth $874,000 after purchasing an additional 18,977 shares during the period. Leuthold Group LLC acquired a new position in shares of AT&T during the second quarter worth $3,769,000. UP Strategic Wealth Investment Advisors LLC acquired a new position in shares of AT&T during the second quarter worth $218,000. WCG Wealth Advisors LLC lifted its holdings in shares of AT&T by 14.2% during the second quarter. WCG Wealth Advisors LLC now owns 59,838 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 7,438 shares during the period. Finally, Garner Asset Management Corp lifted its holdings in shares of AT&T by 9.4% during the second quarter. Garner Asset Management Corp now owns 143,304 shares of the technology company’s stock worth $2,739,000 after purchasing an additional 12,329 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI lifted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.31.

AT&T Trading Down 1.7 %

T opened at $21.35 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average price of $19.82 and a two-hundred day moving average price of $18.30. The company has a market cap of $153.08 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is presently 59.68%.

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.