Lakeside Advisors INC. Has $1.95 Million Holdings in AT&T Inc. (NYSE:T)

Lakeside Advisors INC. cut its holdings in AT&T Inc. (NYSE:T) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,237 shares of the technology company’s stock after selling 4,350 shares during the period. AT&T comprises approximately 1.4% of Lakeside Advisors INC.’s investment portfolio, making the stock its 17th biggest holding. Lakeside Advisors INC.’s holdings in AT&T were worth $1,950,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Carmel Capital Partners LLC raised its holdings in shares of AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares during the last quarter. FWL Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $31,000. Financial Freedom LLC acquired a new position in AT&T during the fourth quarter worth $34,000. Lipe & Dalton acquired a new position in AT&T during the third quarter worth $30,000. Finally, Ramirez Asset Management Inc. acquired a new position in AT&T during the third quarter worth $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

T stock traded down $0.15 during midday trading on Wednesday, reaching $16.09. The company had a trading volume of 56,368,796 shares, compared to its average volume of 32,633,924. The company has a market capitalization of $115.09 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 2.45 and a beta of 0.57. The stock has a 50 day moving average price of $17.04 and a 200-day moving average price of $16.48. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $19.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The company had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. Equities research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.90%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Tigress Financial boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Barclays lifted their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.68.

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.