Voleon Capital Management LP Has $5.10 Million Position in AT&T Inc. $T

Key Points

• Voleon Capital Management LP significantly cut its stake in AT&T by 47.6%, now holding 180,456 shares valued at over $5 million.
• Other hedge funds like Vanguard Group Inc. and GQG Partners LLC have increased their stakes, indicating ongoing institutional interest in the company.
• AT&T recently announced a quarterly dividend of $0.2775, which provides an annualized yield of 3.8%, and the firm's debt-to-equity ratio stands at 1.01.

Voleon Capital Management LP cut its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 47.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,456 shares of the technology company's stock after selling 163,909 shares during the period. Voleon Capital Management LP's holdings in AT&T were worth $5,103,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Nuveen LLC bought a new position in shares of AT&T in the 1st quarter valued at $1,072,128,000. GQG Partners LLC lifted its stake in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AT&T by 31.8% in the 4th 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 valued at $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock valued at $321,372,000 after acquiring an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 2.3%

NYSE T traded down $0.69 on Monday, reaching $28.91. The company had a trading volume of 40,572,915 shares, compared to its average volume of 27,213,860. The firm has a market cap of $206.68 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.66 and a beta of 0.44. AT&T Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $29.79. The business has a 50 day moving average of $28.23 and a two-hundred day moving average of $27.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the business posted $0.51 earnings per share. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on T. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. Bank of America began coverage on AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.60.

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.