AGF Management Ltd. Has $5.31 Million Stake in AT&T Inc. (NYSE:T)

Key Points

• AGF Management Ltd. has reduced its stake in AT&T Inc. by 7.9%, selling 16,159 shares during the first quarter, now holding 187,610 shares worth approximately $5.3 million.
• AT&T reported $0.54 earnings per share for its latest quarter, surpassing analysts' expectations of $0.53, with revenues increasing by 3.4% year-over-year.
• The company declared a quarterly dividend of $0.2775 per share, translating to an annualized dividend yield of 3.9%.

AGF Management Ltd. decreased its stake in AT&T Inc. (NYSE:T - Free Report) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,610 shares of the technology company's stock after selling 16,159 shares during the period. AGF Management Ltd.'s holdings in AT&T were worth $5,306,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of T. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in AT&T during the fourth quarter worth about $27,000. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% during the first 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 period. Finally, Core Alternative Capital lifted its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

T traded up $0.36 during trading on Thursday, hitting $28.76. 24,523,413 shares of the stock traded hands, compared to its average volume of 37,456,629. AT&T Inc. has a twelve month low of $18.97 and a twelve month high of $29.19. The company has a market cap of $205.61 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 3.53 and a beta of 0.42. 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 business has a 50 day moving average price of $27.87 and a 200 day moving average price of $27.13.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. AT&T's payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

T has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.