Lockheed Martin Investment Management Co. Has $20.42 Million Position in AT&T Inc. (NYSE:T)

Key Points

• Lockheed Martin Investment Management Co. has reduced its stake in AT&T by 26.7%, now holding 722,200 shares valued at approximately $20.4 million.
• AT&T recently declared a quarterly dividend of $0.2775, resulting in an annualized yield of 4.0% with a payout ratio of 63.07%.
• Analysts have mixed opinions on AT&T, with a consensus average rating of "Moderate Buy" and a price target of $29.66.

Lockheed Martin Investment Management Co. lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 26.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 722,200 shares of the technology company's stock after selling 262,400 shares during the quarter. AT&T makes up about 0.8% of Lockheed Martin Investment Management Co.'s holdings, making the stock its 28th biggest position. Lockheed Martin Investment Management Co.'s holdings in AT&T were worth $20,424,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of T. Hager Investment Management Services LLC lifted its position in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of AT&T during the first quarter valued at approximately $29,000. Core Alternative Capital boosted its holdings in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after buying an additional 568 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in AT&T during the fourth quarter worth approximately $25,000. Finally, Minot DeBlois Advisors LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 1.3%

NYSE:T traded up $0.37 during trading hours on Tuesday, hitting $28.51. The stock had a trading volume of 30,754,806 shares, compared to its average volume of 37,614,555. AT&T Inc. has a one year low of $18.97 and a one year high of $29.19. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market cap of $203.86 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 3.48 and a beta of 0.42. The business's 50 day moving average is $27.84 and its 200-day moving average is $27.11.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $0.51 earnings per share. The firm's revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate 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 was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. AT&T's dividend payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

A number of research firms recently commented on T. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. UBS Group reissued a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, Scotiabank boosted their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.66.

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.