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

Lazari Capital Management Inc. decreased its stake in AT&T Inc. (NYSE:T) by 4.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,194 shares of the technology company’s stock after selling 2,937 shares during the quarter. Lazari Capital Management Inc.’s holdings in AT&T were worth $1,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Davidson Kempner Capital Management LP acquired a new stake in shares of AT&T during the 2nd quarter valued at about $23,888,000. Talbot Financial LLC acquired a new stake in AT&T in the third quarter valued at approximately $7,438,000. Mackenzie Financial Corp grew its holdings in AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC increased its position in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after buying an additional 43,062 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Oppenheimer boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their target price on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. TD Cowen raised their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, 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 research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.69.

AT&T Trading Down 0.7 %

Shares of T stock opened at $21.51 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34. The company’s 50-day moving average price is $21.03 and its 200-day moving average price is $19.04. The stock has a market cap of $154.23 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is presently 63.79%.

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.