Lowe Brockenbrough & Co. Inc. Reduces Stake in AT&T Inc. (T)

Lowe Brockenbrough & Co. Inc. trimmed its position in AT&T Inc. (NYSE:T) by 0.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 215,208 shares of the technology company’s stock after selling 843 shares during the period. AT&T accounts for approximately 1.4% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 17th biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in AT&T were worth $8,942,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in T. Schwab Charles Investment Management Inc. increased its holdings in 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 purchasing an additional 985,330 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in AT&T in the first quarter valued at $25,127,000. State of Wisconsin Investment Board increased its holdings in AT&T by 11.0% in the first quarter. State of Wisconsin Investment Board now owns 6,051,883 shares of the technology company’s stock valued at $251,456,000 after purchasing an additional 597,735 shares during the period. Thomaspartners Inc. increased its holdings in AT&T by 9.0% in the first quarter. Thomaspartners Inc. now owns 5,712,904 shares of the technology company’s stock valued at $237,371,000 after purchasing an additional 470,906 shares during the period. Finally, Hexavest Inc. increased its holdings in AT&T by 10.0% in the first quarter. Hexavest Inc. now owns 5,103,227 shares of the technology company’s stock valued at $212,039,000 after purchasing an additional 462,140 shares during the period. Institutional investors own 55.01% of the company’s stock.

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AT&T Inc. (NYSE:T) traded up 0.47% on Wednesday, reaching $36.43. 10,975,408 shares of the company were exchanged. The firm has a 50-day moving average of $37.75 and a 200 day moving average of $39.03. The firm has a market capitalization of $223.68 billion, a P/E ratio of 17.12 and a beta of 0.49. AT&T Inc. has a 12-month low of $35.10 and a 12-month high of $43.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $39.84 billion. AT&T had a net margin of 8.12% and a return on equity of 14.53%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 earnings per share. On average, equities analysts predict that AT&T Inc. will post $2.94 earnings per share for the current year.

A number of analysts have weighed in on the company. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.93 price target for the company in a report on Wednesday, May 24th. Barclays PLC decreased their price target on AT&T from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, July 14th. Royal Bank Of Canada reiterated a “hold” rating and set a $42.00 price target on shares of AT&T in a report on Sunday, July 9th. ValuEngine downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Bank of America Corporation downgraded AT&T from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $46.00 to $39.00 in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, nineteen 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 $43.41.

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.

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

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