Lathrop Investment Management Corp lessened its position in AT&T Inc. (NYSE:T) by 24.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,238 shares of the technology company’s stock after selling 3,675 shares during the quarter. Lathrop Investment Management Corp’s holdings in AT&T were worth $320,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC lifted its holdings in AT&T by 10.4% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock valued at $37,000 after buying an additional 1,248 shares in the last quarter. NWK Group Inc. bought a new stake in AT&T during the 2nd quarter valued at about $65,000. JJJ Advisors Inc. increased its position in AT&T by 212.3% during the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the period. Provident Wealth Management LLC purchased a new position in AT&T during the 3rd quarter valued at about $70,000. Finally, Litman Gregory Asset Management LLC increased its position in AT&T by 844.0% during the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock valued at $90,000 after purchasing an additional 2,667 shares during the period. Hedge funds and other institutional investors own 52.29% of the company’s stock.
Shares of NYSE T opened at $26.88 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 12 month low of $26.08 and a 12 month high of $39.70. The company has a 50 day simple moving average of $28.68 and a two-hundred day simple moving average of $29.71. The stock has a market cap of $191.52 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.64 and a beta of 0.69.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.74%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio is currently 58.26%.
In other news, Director Stephen J. Luczo bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was purchased at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.07% of the company’s stock.
A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Morgan Stanley cut their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Royal Bank of Canada raised their target price on shares of AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. KeyCorp downgraded shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a research report on Monday, October 5th. Finally, Bank of America reaffirmed a “buy” rating and issued a $36.00 price objective on shares of AT&T in a research report on Friday, July 24th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $33.46.
AT&T Company Profile
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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