King Luther Capital Management Corp Grows Stock Holdings in AT&T Inc. (NYSE:T)

Key Points

• King Luther Capital Management Corp increased its holdings in AT&T by 4.7%, acquiring an additional 77,765 shares and bringing its total ownership to approximately 1.73 million shares, worth nearly $48.9 million.
• Several institutional investors, including UBS AM and the Ontario Teachers Pension Plan Board, significantly raised their stakes in AT&T, with UBS AM increasing its position by 31.8% and Ontario Teachers by over 30,500% in the latest quarter.
• Analysts project a consensus target price of $29.66 for AT&T stock, with a current rating of "Moderate Buy" supported by upgrades from firms like Morgan Stanley and Royal Bank of Canada.

King Luther Capital Management Corp grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,728,267 shares of the technology company's stock after purchasing an additional 77,765 shares during the quarter. King Luther Capital Management Corp's holdings in AT&T were worth $48,875,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC raised its holdings 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 valued at $28,000 after acquiring an additional 641 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in shares of AT&T during the first quarter valued at approximately $29,000. Core Alternative Capital boosted its position in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after purchasing an additional 568 shares during the last quarter. Capital A Wealth Management LLC purchased a new position in AT&T in the fourth quarter worth about $25,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on T. Morgan Stanley boosted their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. TD Securities increased their price target on AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $29.66.

AT&T Trading Up 0.2%

NYSE:T traded up $0.07 during trading hours on Monday, hitting $28.15. 20,598,477 shares of the stock were exchanged, compared to its average volume of 33,760,524. The company's 50 day moving average is $27.83 and its two-hundred day moving average is $27.07. AT&T Inc. has a twelve month low of $18.97 and a twelve month high of $29.19. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $201.28 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is currently 63.07%.

AT&T 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.