Alyeska Investment Group L.P. Takes $217.27 Million Position in AT&T Inc. $T

Key Points

• Alyeska Investment Group L.P. invested approximately $217.27 million in AT&T Inc., acquiring about 7.68 million shares, making it the firm's 16th largest holding.
• AT&T recently reported a quarterly EPS of $0.54, exceeding estimates, with a revenue of $30.85 billion, reflecting a year-over-year growth of 3.4%.
• AT&T announced a quarterly dividend of $0.2775 per share, leading to an annualized yield of 3.8% for shareholders.

Alyeska Investment Group L.P. acquired a new stake in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,682,735 shares of the technology company's stock, valued at approximately $217,268,000. AT&T comprises about 0.9% of Alyeska Investment Group L.P.'s portfolio, making the stock its 16th biggest holding. Alyeska Investment Group L.P. owned 0.11% of AT&T at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in T. Brighton Jones LLC increased its stake in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC bought a new stake in shares of AT&T during the fourth quarter worth $213,000. Baker Avenue Asset Management LP grew its stake in shares of AT&T by 24.0% during the fourth quarter. Baker Avenue Asset Management LP now owns 14,697 shares of the technology company's stock worth $335,000 after buying an additional 2,849 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of AT&T during the fourth quarter worth $1,067,000. Finally, Captrust Financial Advisors grew its stake in shares of AT&T by 8.1% during the fourth quarter. Captrust Financial Advisors now owns 2,579,778 shares of the technology company's stock worth $58,742,000 after buying an additional 192,705 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research reports. Raymond James Financial reaffirmed a "strong-buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. UBS Group reaffirmed a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday. They set a "buy" rating and a $32.00 target price on the stock. Finally, Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $30.55.

AT&T Trading Up 1.8%

Shares of NYSE:T traded up $0.52 during mid-day trading on Thursday, reaching $29.56. 31,831,939 shares of the company's stock were exchanged, compared to its average volume of 27,312,772. The firm has a market capitalization of $211.33 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a twelve month low of $20.52 and a twelve month high of $29.70. The business's fifty day moving average price is $28.20 and its 200-day moving average price is $27.60.

AT&T (NYSE:T - Get Free Report) last released its 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. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T's payout ratio is presently 63.07%.

AT&T Company Profile

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.