AT&T Inc. $T Stock Position Boosted by Edgar Lomax Co. VA

Key Points

• Edgar Lomax Co. VA increased its stake in AT&T Inc. by 34.9% in the first quarter, owning over 2.26 million shares worth approximately $63.9 million.
• AT&T reported earnings of $0.54 per share last quarter, exceeding analysts' expectations, and experienced a 3.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend yield of 3.8%.

Edgar Lomax Co. VA boosted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 34.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,260,933 shares of the technology company's stock after purchasing an additional 585,135 shares during the period. AT&T makes up 4.0% of Edgar Lomax Co. VA's holdings, making the stock its 7th biggest holding. Edgar Lomax Co. VA's holdings in AT&T were worth $63,939,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T during the 4th quarter worth $25,000. Stone House Investment Management LLC acquired a new stake in AT&T in the 1st quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in AT&T in the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.5%

Shares of NYSE T opened at $28.89 on Monday. AT&T Inc. has a 52-week low of $19.08 and a 52-week high of $29.19. The business has a fifty day moving average of $27.90 and a two-hundred day moving average of $27.23. 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 stock has a market cap of $206.57 billion, a PE ratio of 16.41, a PEG ratio of 3.57 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T's payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on T shares. Royal Bank Of Canada increased their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Barclays lifted their price objective on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Williams Trading set a $30.00 price objective on shares of AT&T in a report on Thursday, April 24th. Finally, Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.21.

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.

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