Lincoln National Corp lifted its position in AT&T Inc. (NYSE:T – Get Rating) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 179,312 shares of the technology company’s stock after purchasing an additional 12,909 shares during the quarter. Lincoln National Corp’s holdings in AT&T were worth $4,237,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in T. SWS Partners acquired a new stake in AT&T during the 1st quarter worth approximately $25,000. KRS Capital Management LLC purchased a new position in shares of AT&T during the 4th quarter worth approximately $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of AT&T during the 1st quarter worth approximately $27,000. Missouri Trust & Investment Co purchased a new position in shares of AT&T during the 4th quarter worth approximately $34,000. Finally, SBK Financial Inc. purchased a new position in AT&T in the 4th quarter valued at approximately $35,000. 53.47% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on AT&T to $22.00 in a research note on Friday, July 22nd. Cowen dropped their price objective on AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a research note on Friday, July 22nd. Raymond James reissued an “outperform” rating and set a $26.00 price target on shares of AT&T in a research report on Thursday, July 7th. The Goldman Sachs Group began coverage on AT&T in a research report on Monday, April 25th. They set a “buy” rating and a $23.00 price target for the company. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $34.00 to $22.00 in a research report on Monday, April 11th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Hold” and a consensus target price of $23.89.
AT&T Trading Up 0.4 %
AT&T (NYSE:T – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. AT&T had a return on equity of 13.09% and a net margin of 13.41%. The company had revenue of $29.64 billion for the quarter, compared to analyst estimates of $29.48 billion. During the same period last year, the company posted $0.89 earnings per share. The firm’s revenue was down 17.1% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.51 earnings per share for the current fiscal year.
AT&T Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Friday, July 8th. AT&T’s payout ratio is 40.81%.
AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
- Get a free copy of the StockNews.com research report on AT&T (T)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.