AT&T Inc. $T Shares Sold by Amundi

Key Points

• Amundi reduced its stake in AT&T Inc. by 21.0% during the first quarter, selling over 7 million shares and holding approximately 26.8 million shares afterward, valued at $766.9 million.
• AT&T's latest earnings report showed a slight earnings per share (EPS) of $0.54, above the consensus estimate, with revenue increasing by 3.4% compared to the previous year.
• The company announced a quarterly dividend of $0.2775 per share, representing an annual yield of 3.8%, with a payout ratio of 63.07%.

Amundi reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 21.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,815,377 shares of the technology company's stock after selling 7,148,449 shares during the quarter. Amundi owned approximately 0.37% of AT&T worth $766,920,000 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. Minot DeBlois Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in AT&T during the 4th quarter valued at about $25,000. Stone House Investment Management LLC bought a new position in shares of AT&T in the 1st quarter worth approximately $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the 4th quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC lifted its stake in shares of 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 period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 1.8%

Shares of T stock traded up $0.52 during trading hours 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. AT&T Inc. has a 1 year low of $20.52 and a 1 year high of $29.70. The stock has a market cap of $211.33 billion, a PE ratio of 16.79, a PEG ratio of 3.59 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock's fifty day moving average price is $28.20 and its two-hundred day moving average price is $27.60.

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 for the quarter, topping analysts' consensus estimates 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 previous year, the firm earned $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein increased their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, UBS Group reaffirmed a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $30.55.

AT&T 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.