LexAurum Advisors LLC Sells 15,151 Shares of AT&T Inc. (NYSE:T)

LexAurum Advisors LLC lessened its position in AT&T Inc. (NYSE:T) by 35.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,229 shares of the technology company’s stock after selling 15,151 shares during the quarter. LexAurum Advisors LLC’s holdings in AT&T were worth $620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in shares of AT&T by 4.7% during the second quarter. Thrivent Financial for Lutherans now owns 475,114 shares of the technology company’s stock worth $9,080,000 after acquiring an additional 21,233 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in AT&T in the second quarter worth approximately $44,000. AQR Capital Management LLC increased its holdings in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the period. APG Asset Management N.V. raised its position in AT&T by 6.8% during the 2nd quarter. APG Asset Management N.V. now owns 4,621,726 shares of the technology company’s stock valued at $82,408,000 after purchasing an additional 294,388 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on T shares. Citigroup lifted their price objective on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada upgraded AT&T from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $22.00 to $26.00 in a report on Monday, January 6th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Tigress Financial boosted their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

AT&T Stock Performance

Shares of T opened at $22.51 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a 50-day moving average of $22.80 and a two-hundred day moving average of $21.40. The stock has a market cap of $161.54 billion, a P/E ratio of 18.30, a P/E/G ratio of 3.50 and a beta of 0.59. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.93%. AT&T’s payout ratio is currently 90.24%.

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.