Linscomb Wealth Inc. Reduces Stock Position in AT&T Inc. (NYSE:T)

Linscomb Wealth Inc. cut its holdings in AT&T Inc. (NYSE:T) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,625 shares of the technology company’s stock after selling 2,370 shares during the quarter. Linscomb Wealth Inc.’s holdings in AT&T were worth $960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Legal & General Group Plc boosted its holdings in AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. increased its position in AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the period. LSV Asset Management raised its holdings in AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after purchasing an additional 675,082 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of several research analyst reports. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Moffett Nathanson lifted their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Up 2.0 %

T stock opened at $22.69 on Friday. The stock has a market capitalization of $162.81 billion, a P/E ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1-year low of $15.75 and a 1-year high of $22.75. The business has a fifty day moving average price of $21.89 and a 200-day moving average price of $19.71.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.