King Luther Capital Management Corp Raises Position in AT&T Inc. (NYSE:T)

King Luther Capital Management Corp increased its holdings in AT&T Inc. (NYSE:T) by 11.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,650,502 shares of the technology company’s stock after acquiring an additional 167,512 shares during the quarter. King Luther Capital Management Corp’s holdings in AT&T were worth $37,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of AT&T during the third quarter valued at about $25,000. Marshall Investment Management LLC bought a new stake in shares of AT&T in the fourth quarter worth about $28,000. Tradewinds Capital Management LLC grew its stake in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. YANKCOM Partnership bought a new stake in shares of AT&T in the fourth quarter worth about $30,000. Finally, Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.7 %

Shares of T stock opened at $27.30 on Tuesday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $27.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The firm has a market capitalization of $195.96 billion, a PE ratio of 18.32, a PEG ratio of 3.00 and a beta of 0.56. The stock has a fifty day simple moving average of $24.40 and a two-hundred day simple moving average of $22.90.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.07%. AT&T’s payout ratio is 74.50%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Oppenheimer initiated coverage on AT&T in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, January 16th. Finally, Tigress Financial boosted their target price on shares of AT&T from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.74.

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.