Lynch & Associates cuts stakes in AT&T

Lynch & Associates IN decreased its position in shares of AT&T Inc. (NYSE:T) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).

The firm owned 79,211 shares of the technology company’s stock after selling 2,504 shares during the period. Lynch & Associates IN’s holdings in AT&T were worth $2,258,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC purchased a new stake in AT&T during the 3rd quarter worth $150,000. Crumly & Associates Inc. purchased a new stake in AT&T during the 3rd quarter worth $238,000. Demars Financial Group LLC increased its stake in AT&T by 14.1% during the 3rd quarter. Demars Financial Group LLC now owns 19,276 shares of the technology company’s stock worth $550,000 after buying an additional 2,383 shares during the period. Capital City Trust Co. FL increased its stake in AT&T by 2.9% during the 3rd quarter. Capital City Trust Co. FL now owns 60,319 shares of the technology company’s stock worth $1,719,000 after buying an additional 1,687 shares during the period. Finally, Cerebellum GP LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $62,000. 52.29% of the stock is currently owned by hedge funds and other institutional investors.

AT&T has been the subject of several research analyst reports. Royal Bank of Canada boosted their target price on shares of AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Morgan Stanley dropped their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Credit Suisse Group dropped their target price on shares of AT&T from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday. Scotiabank downgraded shares of AT&T from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the stock from $34.00 to $30.00 in a research report on Monday, August 31st. Finally, Oppenheimer reissued a “buy” rating and issued a $38.00 target price on shares of AT&T in a research report on Thursday, October 1st. Six analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.38.

AT&T stock opened at $27.82 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $28.47 and a two-hundred day moving average price of $29.69. The firm has a market capitalization of $198.22 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.52 and a beta of 0.69. AT&T Inc. has a 52-week low of $26.08 and a 52-week high of $39.70.
AT&T (NYSE:T) last posted its earnings results on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The firm had revenue of $42.43 billion for the quarter, compared to analyst estimates of $41.66 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. Research analysts expect that AT&T Inc. will post 3.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date is Thursday, October 8th. AT&T’s payout ratio is 58.26%.

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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