Candriam S.C.A. Sells 25,570 Shares of AT&T Inc. $T

Key Points

• Candriam S.C.A. reduced its stake in AT&T Inc. by 4.6%, holding 530,679 shares after selling 25,570 shares in the first quarter, valued at approximately $15 million.
• AT&T reported earnings of $0.54 per share, exceeding expectations, along with quarterly revenue of $30.85 billion, which represents a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, equating to an annualized yield of 3.8%, with a current payout ratio of 63.07%.

Candriam S.C.A. cut its position in AT&T Inc. (NYSE:T - Free Report) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,679 shares of the technology company's stock after selling 25,570 shares during the period. Candriam S.C.A.'s holdings in AT&T were worth $15,008,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of T. Luts & Greenleigh Group Inc. grew its position in shares of AT&T by 19.6% in the 1st quarter. Luts & Greenleigh Group Inc. now owns 20,225 shares of the technology company's stock valued at $572,000 after buying an additional 3,320 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of AT&T by 9.8% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 53,337 shares of the technology company's stock valued at $1,508,000 after purchasing an additional 4,770 shares in the last quarter. GM Advisory Group LLC raised its position in shares of AT&T by 281.5% in the first quarter. GM Advisory Group LLC now owns 114,825 shares of the technology company's stock valued at $3,247,000 after buying an additional 84,723 shares during the last quarter. Breed s Hill Capital LLC acquired a new position in shares of AT&T in the first quarter valued at approximately $232,000. Finally, Level Four Advisory Services LLC increased its position in AT&T by 5.3% during the first quarter. Level Four Advisory Services LLC now owns 147,271 shares of the technology company's stock worth $4,165,000 after purchasing an additional 7,348 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T traded down $0.7110 during mid-day trading on Friday, hitting $28.7290. The company's stock had a trading volume of 33,993,083 shares, compared to its average volume of 30,014,602. The firm has a 50-day moving average price of $27.99 and a 200 day moving average price of $27.36. The stock has a market capitalization of $205.42 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 3.64 and a beta of 0.42. 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 Inc. has a fifty-two week low of $19.51 and a fifty-two week high of $29.65.

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 for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $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 firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid 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 3.9%. AT&T's payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Cowen reaffirmed a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Royal Bank Of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. TD Securities increased their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.21.

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.