Hazlett Burt & Watson Inc. Lowers Stock Holdings in AT&T Inc. $T

Hazlett Burt & Watson Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,142 shares of the technology company’s stock after selling 766 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in AT&T were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in T. Stone House Investment Management LLC purchased a new position in shares of AT&T during the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T in the second quarter valued at about $26,000. Hager Investment Management Services LLC lifted its position in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the period. Kennebec Savings Bank lifted its position in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Finally, Core Alternative Capital lifted its position in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $25.57 on Tuesday. The firm has a 50 day moving average of $28.41 and a 200-day moving average of $27.86. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. 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 cap of $182.80 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.10 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. 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 firm earned $0.51 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Barclays restated an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a research report on Wednesday, October 1st. Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Company Profile

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.