Lakeside Advisors INC. Sells 20,222 Shares of AT&T Inc. $T

Lakeside Advisors INC. lowered its position in AT&T Inc. (NYSE:T) by 21.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,808 shares of the technology company’s stock after selling 20,222 shares during the period. AT&T accounts for about 1.4% of Lakeside Advisors INC.’s holdings, making the stock its 17th biggest position. Lakeside Advisors INC.’s holdings in AT&T were worth $2,136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in T. Stone House Investment Management LLC purchased a new stake in shares of AT&T in the first quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T in the second quarter worth approximately $26,000. Kennebec Savings Bank raised its stake in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares during the last quarter. Hager Investment Management Services LLC raised its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in shares of AT&T in the first quarter worth approximately $29,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research note on Monday. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.75.

AT&T Stock Performance

Shares of T opened at $26.13 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $186.85 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 3.31 and a beta of 0.42. The stock has a 50 day moving average of $28.54 and a 200 day moving average of $27.91. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the business posted $0.51 earnings per share. AT&T’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.