TCW Group Inc. Has $64.23 Million Stock Holdings in AT&T Inc. (NYSE:T)

Key Points

• TCW Group Inc. increased its stake in AT&T Inc. by 7.9%, owning approximately 2.27 million shares valued at $64.23 million at the end of the most recent reporting period.
• AT&T reported $0.54 EPS for the quarter, surpassing analysts' expectations, with revenue of $30.85 billion, marking a 3.4% year-over-year increase.
• The company announced a quarterly dividend of $0.2775 per share, which will be paid on August 1st, representing an annualized yield of 3.96%.

TCW Group Inc. increased its stake in AT&T Inc. (NYSE:T - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,271,200 shares of the technology company's stock after purchasing an additional 165,743 shares during the quarter. TCW Group Inc.'s holdings in AT&T were worth $64,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Northern Trust Corp raised its stake in shares of AT&T by 16.3% during the 4th quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company's stock valued at $1,779,438,000 after buying an additional 10,945,679 shares during the last quarter. Invesco Ltd. grew its position in shares of AT&T by 18.2% during the 4th quarter. Invesco Ltd. now owns 47,651,898 shares of the technology company's stock valued at $1,085,034,000 after acquiring an additional 7,347,354 shares during the period. Marshall Wace LLP purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $160,747,000. Finally, Alliancebernstein L.P. raised its position in shares of AT&T by 40.1% during the 4th quarter. Alliancebernstein L.P. now owns 18,632,607 shares of the technology company's stock valued at $424,264,000 after buying an additional 5,329,647 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

NYSE T traded up $0.12 during trading hours on Wednesday, reaching $27.53. The stock had a trading volume of 11,290,364 shares, compared to its average volume of 37,904,660. AT&T Inc. has a 52-week low of $18.64 and a 52-week high of $29.19. The stock has a market cap of $196.81 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 3.42 and a beta of 0.42. The stock has a fifty day moving average of $27.79 and a 200 day moving average of $26.73. 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 (NYSE:T - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. Sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.03%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on T shares. UBS Group reissued a "buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. 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. Barclays lifted their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.66.

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.