Lavaca Capital LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,837 shares of the technology company’s stock after selling 280 shares during the quarter. AT&T accounts for approximately 1.8% of Lavaca Capital LLC’s investment portfolio, making the stock its 16th largest holding. Lavaca Capital LLC’s holdings in AT&T were worth $2,416,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. JJJ Advisors Inc. bought a new stake in shares of AT&T in the third quarter valued at about $27,000. Horan Securities Inc. grew its stake in AT&T by 439.2% in the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after purchasing an additional 830 shares during the last quarter. Next Capital Management LLC purchased a new position in AT&T in the second quarter valued at about $39,000. Contravisory Investment Management Inc. grew its stake in AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new position in AT&T in the third quarter valued at about $45,000. Institutional investors and hedge funds own 52.94% of the company’s stock.
Several research firms have issued reports on T. Royal Bank of Canada lifted their target price on AT&T from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley set a $37.00 target price on AT&T and gave the company a “buy” rating in a research note on Tuesday, September 10th. ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. National Bank Financial lifted their target price on AT&T from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Bank of America reiterated a “buy” rating on shares of AT&T in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.74.
Shares of T stock traded down $0.04 during trading hours on Friday, reaching $39.38. 18,270,257 shares of the company’s stock were exchanged, compared to its average volume of 30,604,307. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $39.58. The stock has a market cap of $287.75 billion, a PE ratio of 11.19, a PEG ratio of 2.47 and a beta of 0.64. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average price is $37.87 and its two-hundred day moving average price is $34.45.
AT&T (NYSE:T) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The business had revenue of $44.59 billion for the quarter, compared to analyst estimates of $45.45 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 3.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.18%. AT&T’s payout ratio is 57.95%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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