Lazari Capital Management Inc. Lowers Holdings in AT&T Inc. (NYSE:T)

Lazari Capital Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,029 shares of the technology company’s stock after selling 6,284 shares during the period. Lazari Capital Management Inc.’s holdings in AT&T were worth $1,074,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc raised its holdings in AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after purchasing an additional 598 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares in the last quarter. JB Capital LLC raised its holdings in AT&T by 2.4% during the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares in the last quarter. Connecticut Wealth Management LLC raised its holdings in AT&T by 3.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock worth $362,000 after purchasing an additional 620 shares in the last quarter. Finally, AMG National Trust Bank raised its holdings in AT&T by 1.0% during the fourth quarter. AMG National Trust Bank now owns 60,064 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on T. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Scotiabank upped their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.32.

AT&T Trading Down 0.2 %

NYSE:T traded down $0.03 during trading hours on Friday, reaching $17.64. 22,652,283 shares of the company were exchanged, compared to its average volume of 30,374,524. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market cap of $126.48 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 3.47 and a beta of 0.60. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.45. The stock has a 50 day simple moving average of $17.18 and a 200 day simple moving average of $17.06.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio is presently 59.68%.

About AT&T

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.