AT&T Inc. (NYSE:T) Stock Holdings Lifted by Lincoln National Corp

Lincoln National Corp raised its position in shares of AT&T Inc. (NYSE:TGet Rating) by 7.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 179,312 shares of the technology company’s stock after acquiring an additional 12,909 shares during the period. Lincoln National Corp’s holdings in AT&T were worth $4,237,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SWS Partners acquired a new stake in AT&T during the 1st quarter valued at $25,000. KRS Capital Management LLC purchased a new position in shares of AT&T during the 4th quarter valued at $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of AT&T during the 1st quarter valued at $27,000. Missouri Trust & Investment Co purchased a new position in shares of AT&T during the 4th quarter valued at $34,000. Finally, SBK Financial Inc. purchased a new position in shares of AT&T during the 4th quarter valued at $35,000. 53.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on T shares. Wells Fargo & Company lowered their price target on shares of AT&T to $22.00 in a report on Friday, July 22nd. Morgan Stanley decreased their price target on shares of AT&T from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, April 13th. Royal Bank of Canada cut their price objective on shares of AT&T from $30.00 to $20.00 and set a “sector perform” rating for the company in a research report on Monday, April 25th. Wolfe Research cut their price objective on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Finally, Citigroup dropped their price target on shares of AT&T from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, April 12th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Hold” and a consensus price target of $23.89.

AT&T Price Performance

T opened at $18.35 on Friday. AT&T Inc. has a one year low of $16.62 and a one year high of $21.53. The stock has a market capitalization of $131.37 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 1.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.72 and a quick ratio of 0.65. The company’s 50 day simple moving average is $20.11 and its 200-day simple moving average is $21.67.

AT&T (NYSE:TGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.09%. The firm had revenue of $29.64 billion for the quarter, compared to analysts’ expectations of $29.48 billion. During the same period last year, the firm earned $0.89 earnings per share. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. Sell-side analysts anticipate that AT&T Inc. will post 2.51 earnings per share for the current fiscal year.

AT&T Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a yield of 6.05%. AT&T’s payout ratio is presently 40.81%.

AT&T Profile

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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.

Further Reading

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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