Alan B Lancz & Associates Inc. Cuts Position in AT&T Inc. (NYSE:T)

Alan B Lancz & Associates Inc. reduced its stake in shares of AT&T Inc. (NYSE:T) by 15.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,764 shares of the technology company’s stock after selling 3,565 shares during the period. Alan B Lancz & Associates Inc.’s holdings in AT&T were worth $332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sora Investors LLC acquired a new position in AT&T during the third quarter worth about $11,265,000. Checchi Capital Advisers LLC increased its stake in AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock valued at $585,000 after purchasing an additional 1,178 shares in the last quarter. Retireful LLC acquired a new position in AT&T during the fourth quarter worth $1,163,000. Brighton Jones LLC boosted its position in AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after purchasing an additional 5,161 shares in the last quarter. Finally, Terril Brothers Inc. grew its holdings in AT&T by 51.6% in the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after purchasing an additional 202,637 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on T. Scotiabank lifted their price target on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, January 25th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Trading Up 0.2 %

Shares of T stock traded up $0.03 during mid-day trading on Friday, reaching $16.85. The company’s stock had a trading volume of 24,023,192 shares, compared to its average volume of 41,324,028. The company’s 50 day simple moving average is $16.97 and its 200-day simple moving average is $16.64. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The firm has a market capitalization of $120.52 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 3.31 and a beta of 0.57.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a dividend of $0.2775 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. AT&T’s payout ratio is currently 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.