AT&T Inc. $T Stock Holdings Trimmed by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP reduced its stake in AT&T by 32.3% to 3,125,216 shares, making it the largest position in their portfolio valued at $88.4 million.
• Several institutional investors have adjusted their positions in AT&T, with 57.1% of the company's stock now owned by institutional investors.
• Most analysts maintain a favorable outlook on AT&T, with an average rating of "Moderate Buy" and a consensus price target of $30.21.

Kodai Capital Management LP trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 32.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,125,216 shares of the technology company's stock after selling 1,493,285 shares during the period. AT&T comprises about 3.5% of Kodai Capital Management LP's investment portfolio, making the stock its biggest position. Kodai Capital Management LP's holdings in AT&T were worth $88,381,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in T. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. GQG Partners LLC increased its holdings in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 purchasing an additional 12,881,578 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of AT&T by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 49,038,107 shares of the technology company's stock worth $1,386,798,000 after purchasing an additional 238,873 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.2%

Shares of T stock traded up $0.35 on Friday, hitting $29.29. 26,535,515 shares of the stock traded hands, compared to its average volume of 29,711,526. AT&T Inc. has a twelve month low of $19.62 and a twelve month high of $29.65. The firm's 50-day moving average price is $28.11 and its two-hundred day moving average price is $27.52. The stock has a market capitalization of $209.43 billion, a PE ratio of 16.64, a PEG ratio of 3.62 and a beta of 0.42. 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 posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm 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 company earned $0.51 EPS. AT&T's revenue was up 3.4% on a year-over-year basis. As a group, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday. Bank of America began coverage on AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Raymond James Financial reiterated a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Finally, UBS Group reaffirmed a "buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.21.

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.