Letko Brosseau & Associates Inc. Has $84.22 Million Stock Holdings in AT&T Inc. (NYSE:T)

Letko Brosseau & Associates Inc. grew its position in AT&T Inc. (NYSE:T) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,406,910 shares of the technology company’s stock after purchasing an additional 81,525 shares during the period. AT&T comprises approximately 1.6% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 23rd biggest holding. Letko Brosseau & Associates Inc. owned about 0.06% of AT&T worth $84,216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Mosley Wealth Management lifted its position in AT&T by 11.1% during the 2nd quarter. Mosley Wealth Management now owns 20,863 shares of the technology company’s stock worth $399,000 after buying an additional 2,082 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in AT&T by 2.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 1,245,347 shares of the technology company’s stock worth $23,799,000 after buying an additional 30,476 shares in the last quarter. Gentry Private Wealth LLC acquired a new position in AT&T during the 2nd quarter worth about $488,000. Sivia Capital Partners LLC lifted its position in AT&T by 11.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,024 shares of the technology company’s stock worth $268,000 after buying an additional 1,441 shares in the last quarter. Finally, Cahaba Wealth Management Inc. lifted its position in AT&T by 24.6% during the 2nd quarter. Cahaba Wealth Management Inc. now owns 27,337 shares of the technology company’s stock worth $522,000 after buying an additional 5,392 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.5 %

Shares of T stock traded up $0.32 on Friday, reaching $20.97. The company had a trading volume of 53,079,539 shares, compared to its average volume of 35,856,078. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $150.36 billion, a PE ratio of 11.28, a PEG ratio of 3.36 and a beta of 0.59. The company has a 50-day moving average of $19.31 and a 200-day moving average of $18.00. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $21.00.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the business earned $0.63 EPS. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.29%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Company 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.