Lakeside Advisors INC. Sells 20,222 Shares of AT&T Inc. $T

Key Points

• Lakeside Advisors INC. reduced its holdings in AT&T by 21.5%, selling 20,222 shares during the second quarter, bringing its total ownership to 73,808 shares.
• AT&T has received positive forecasts from analysts, with price targets raised to $32.00 by multiple firms, indicating a consensus rating of "Moderate Buy" and a current average target price of $30.75.
• The company announced a quarterly dividend of $0.2775 per share, with a dividend yield of 4.2% and a payout ratio of 63.07%.

Lakeside Advisors INC. reduced its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 21.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,808 shares of the technology company's stock after selling 20,222 shares during the quarter. AT&T makes up about 1.4% of Lakeside Advisors INC.'s portfolio, making the stock its 17th biggest holding. Lakeside Advisors INC.'s holdings in AT&T were worth $2,136,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in T. Stone House Investment Management LLC acquired a new position in AT&T in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T during the 2nd quarter worth $26,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares in the last quarter. Kennebec Savings Bank raised its holdings in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock worth $28,000 after buying an additional 783 shares in the last quarter. Finally, Core Alternative Capital raised its holdings in shares of AT&T by 125.4% during the 1st 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. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Sanford C. Bernstein boosted their price target on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Scotiabank set a $30.25 target price on AT&T and gave the stock a "sector perform" rating in a report on Monday. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price for the company. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, AT&T currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Stock Up 1.0%

Shares of AT&T stock opened at $26.13 on Wednesday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock's 50-day moving average is $28.54 and its 200 day moving average is $27.91. The firm has a market cap of $186.85 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 3.31 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating 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 company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. AT&T's dividend payout ratio is presently 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.

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