TradeLink Capital LLC Buys Shares of 13,800 AT&T Inc. (NYSE:T)

Key Points

• TradeLink Capital LLC purchased 13,800 shares of AT&T, valued at around $390,000, making it 2.4% of their portfolio.
• AT&T reported a quarterly earnings of $0.54 per share, beating expectations, and had a revenue of $30.85 billion, up 3.4% year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, representing an annual yield of 4.04%, payable on August 1st.

TradeLink Capital LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,800 shares of the technology company's stock, valued at approximately $390,000. AT&T makes up about 2.4% of TradeLink Capital LLC's investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds have also made changes to their positions in T. Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in AT&T in the 1st quarter worth approximately $29,000. Core Alternative Capital lifted its holdings in AT&T by 125.4% in the 1st 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 acquired a new stake in AT&T in the 4th quarter worth approximately $25,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in AT&T in the 4th quarter worth approximately $25,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.7%

Shares of T traded up $0.21 during trading hours on Friday, hitting $27.62. 6,640,596 shares of the stock traded hands, compared to its average volume of 37,779,449. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1-year low of $18.64 and a 1-year high of $29.19. The firm has a market capitalization of $197.46 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 3.41 and a beta of 0.42. The business has a fifty day moving average of $27.80 and a 200-day moving average of $26.77.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (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 business 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 firm posted $0.51 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's dividend payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Royal Bank Of Canada boosted their target price on AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Evercore ISI upped their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. Raymond James Financial reiterated a "strong-buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Finally, Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.66.

About AT&T

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.