LCM Capital Management Inc Cuts Stock Position in AT&T Inc. (NYSE:T)

LCM Capital Management Inc trimmed its position in shares of AT&T Inc. (NYSE:T) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,532 shares of the technology company’s stock after selling 912 shares during the period. LCM Capital Management Inc’s holdings in AT&T were worth $194,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in AT&T by 33.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock worth $651,000 after acquiring an additional 10,758 shares during the last quarter. Avestar Capital LLC bought a new stake in AT&T during the 3rd quarter valued at $237,000. PDS Planning Inc boosted its position in AT&T by 8.7% during the 3rd quarter. PDS Planning Inc now owns 26,173 shares of the technology company’s stock valued at $393,000 after buying an additional 2,104 shares during the period. Garrison Asset Management LLC bought a new stake in AT&T in the 3rd quarter worth $158,000. Finally, All Season Financial Advisors Inc. increased its position in shares of AT&T by 2.4% in the third quarter. All Season Financial Advisors Inc. now owns 41,459 shares of the technology company’s stock valued at $623,000 after acquiring an additional 978 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.7 %

Shares of T stock traded down $0.12 during trading hours on Tuesday, hitting $16.90. 31,792,882 shares of the company’s stock traded hands, compared to its average volume of 39,373,371. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $16.97 and its two-hundred day simple moving average is $16.62. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $18.16. The stock has a market cap of $120.85 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on T shares. Citigroup boosted their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Tigress Financial upped their target price on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Friday, January 19th. Finally, Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

About AT&T

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.