Landscape Capital Management L.L.C. Takes $3.72 Million Position in AT&T Inc. (NYSE:T)

Landscape Capital Management L.L.C. acquired a new stake in shares of AT&T Inc. (NYSE:T) during the third quarter, HoldingsChannel reports. The fund acquired 168,865 shares of the technology company’s stock, valued at approximately $3,715,000.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its position in shares of AT&T by 30.3% in the 1st quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock valued at $48,000 after acquiring an additional 622 shares during the period. Bessemer Group Inc. increased its holdings in shares of AT&T by 72.2% in the first quarter. Bessemer Group Inc. now owns 323,538 shares of the technology company’s stock valued at $5,696,000 after purchasing an additional 135,603 shares during the period. EP Wealth Advisors LLC raised its stake in shares of AT&T by 7.8% in the first quarter. EP Wealth Advisors LLC now owns 109,610 shares of the technology company’s stock worth $1,929,000 after purchasing an additional 7,944 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of AT&T by 5.7% during the first quarter. Axxcess Wealth Management LLC now owns 274,395 shares of the technology company’s stock worth $4,829,000 after purchasing an additional 14,789 shares during the period. Finally, JT Stratford LLC boosted its position in AT&T by 18.4% in the first quarter. JT Stratford LLC now owns 29,568 shares of the technology company’s stock valued at $520,000 after buying an additional 4,600 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE:T opened at $22.83 on Thursday. The company has a market cap of $163.81 billion, a P/E ratio of 18.56, a P/E/G ratio of 3.41 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.20. The company’s 50-day moving average price is $21.96 and its 200-day moving average price is $19.86. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.86%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Moffett Nathanson upped their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.