Los Angeles Capital Management LLC has $21.10M position in AT&T Inc. (NYSE:T)

Los Angeles Capital Management LLC reduced its holdings in AT&T Inc. (NYSE:T – Free Report) by 9.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,104,101 shares of the technology company’s stock after selling 118,524 shares during the quarter. Los Angeles Capital Management LLC’s holdings in AT&T were worth $21,099,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Octavia Wealth Advisors LLC boosted its holdings in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares in the last quarter. WealthCare Investment Partners LLC boosted its position in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares in the last quarter. Integral Investment Advisors Inc. raised its stake in shares of AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares during the last quarter. Financial Counselors Inc. raised its holdings in shares of AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after buying an additional 539 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in shares of AT&T by 1.3% in the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after buying an additional 559 shares in the last quarter. 57.10% of shares are held by institutional investors.

AT&T trading rose 1.5%

NYSE:T opened at $20.97 on Friday. AT&T Inc. it has a one year low of $14.12 and a one year high of $21.00. The company has a market cap of $150.36 billion, a PE ratio of 11.27, a PEG ratio of 3.47 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70, and a quick ratio of 0.66. The firm has a 50-day moving average of $19.31 and a 200-day moving average of $18.01.

AT&T (NYSE:T – Get Your Free Report ) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down 0.3% year over year. In the same quarter last year, the company earned $0.63 per share. As a group, equities research analysts expect AT&T Inc. to post 2.22 EPS for the current fiscal year.

AT&T announces dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents an annualized dividend of $1.11 and a yield of 5.29%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts on Wall Street are forecasting an increase

Several analysts recently weighed in on T shares. Royal Bank of Canada upped their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.06, according to MarketBeat.

See our latest research report on T

AT&T profile

(Free report)

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment provides wireless voice and data communications services; and sells mobile phones, 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.

Read more

Want to see what other hedge funds own T? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for AT&T Inc. (NYSE:T – Free Report).

Get news and reviews for AT&T Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AT&T and related companies with MarketBeat.com’s FREE daily email newsletter.