Linscomb Wealth Inc. Sells 2,370 Shares of AT&T Inc. (NYSE:T)

Linscomb Wealth Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,625 shares of the technology company’s stock after selling 2,370 shares during the quarter. Linscomb Wealth Inc.’s holdings in AT&T were worth $960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after buying an additional 1,007,228 shares during the last quarter. LSV Asset Management grew its holdings in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after buying an additional 675,082 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 2.0 %

T stock opened at $22.69 on Friday. The company’s 50 day moving average is $21.89 and its 200 day moving average is $19.71. The stock has a market cap of $162.81 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1-year low of $15.75 and a 1-year high of $22.75.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is presently 90.24%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Tigress Financial boosted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.