Lazari Capital Management Inc. Cuts Stake in AT&T Inc. (NYSE:T)

Lazari Capital Management Inc. cut its stake in AT&T Inc. (NYSE:T) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,403 shares of the technology company’s stock after selling 791 shares during the quarter. Lazari Capital Management Inc.’s holdings in AT&T were worth $1,307,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in T. International Assets Investment Management LLC bought a new position in shares of AT&T during the fourth quarter valued at approximately $14,700,000. Swiss National Bank grew its holdings in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of AT&T by 41.4% during the third quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. Caprock Group LLC grew its holdings in shares of AT&T by 18.3% during the third quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the last quarter. Finally, Talbot Financial LLC bought a new position in shares of AT&T during the third quarter valued at approximately $7,438,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the subject of several analyst reports. Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI upped their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Sanford C. Bernstein boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Citigroup boosted their target price on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price target on shares of AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

AT&T Price Performance

Shares of T stock opened at $23.74 on Monday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.98. The stock has a market cap of $170.34 billion, a PE ratio of 15.93, a PEG ratio of 2.71 and a beta of 0.59. 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’s 50 day moving average price is $22.92 and its two-hundred day moving average price is $21.66.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, analysts forecast that AT&T Inc. will post 2.15 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.68%. AT&T’s payout ratio is 74.50%.

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.