Livingston Group Asset Management CO operating as Southport Capital Management Acquires 25,411 Shares of AT&T Inc. (NYSE:T)

Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of AT&T Inc. (NYSE:T) by 57.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 69,612 shares of the technology company’s stock after buying an additional 25,411 shares during the period. AT&T comprises approximately 1.2% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 19th largest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in AT&T were worth $2,626,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of AT&T during the fourth quarter valued at about $2,416,759,000. Schwab Charles Investment Management Inc. raised its position in shares of AT&T by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 22,357,627 shares of the technology company’s stock valued at $928,960,000 after buying an additional 985,330 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of AT&T by 6.1% in the fourth quarter. Macquarie Group Ltd. now owns 19,837,884 shares of the technology company’s stock valued at $843,705,000 after buying an additional 1,139,382 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of AT&T by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,915,402 shares of the technology company’s stock valued at $744,385,000 after buying an additional 143,884 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of AT&T by 26.5% in the fourth quarter. Teachers Advisors LLC now owns 13,610,660 shares of the technology company’s stock valued at $578,861,000 after buying an additional 2,849,017 shares during the last quarter. 55.24% of the stock is owned by hedge funds and other institutional investors.

AT&T Inc. (T) traded down 0.61% during mid-day trading on Friday, hitting $37.37. The company had a trading volume of 23,017,865 shares. The stock has a market capitalization of $229.45 billion, a PE ratio of 17.56 and a beta of 0.47. AT&T Inc. has a 1-year low of $35.81 and a 1-year high of $43.03. The stock has a 50 day moving average price of $37.59 and a 200-day moving average price of $39.51.

AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts forecast that AT&T Inc. will post $2.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a dividend of $0.49 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.96 annualized dividend and a yield of 5.24%. AT&T’s payout ratio is 92.45%.

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A number of equities research analysts recently weighed in on the company. Zacks Investment Research lowered AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. ValuEngine lowered AT&T from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $41.00 price target on shares of AT&T in a research report on Saturday, April 29th. Royal Bank Of Canada reiterated a “hold” rating and issued a $42.00 price target on shares of AT&T in a research report on Sunday, July 9th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $41.00 price objective (down from $42.00) on shares of AT&T in a research note on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T has a consensus rating of “Hold” and a consensus target price of $43.50.

About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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