CSM Advisors LLC Decreases Stake in AT&T Inc. $T

Key Points

• CSM Advisors LLC reduced its holdings in AT&T Inc. by 4.6% during Q1, now owning 342,849 shares valued at approximately $9.7 million.
• AT&T reported $0.54 earnings per share for its latest quarter, surpassing estimates and showing a 3.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, marking a 3.9% dividend yield for shareholders.

CSM Advisors LLC trimmed its position in AT&T Inc. (NYSE:T - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 342,849 shares of the technology company's stock after selling 16,390 shares during the period. CSM Advisors LLC's holdings in AT&T were worth $9,696,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Minot DeBlois Advisors LLC acquired a new stake in AT&T during the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter worth $25,000. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth $25,000. Putney Financial Group LLC acquired a new stake in AT&T during the 4th quarter worth $27,000. Finally, Hager Investment Management Services LLC raised its stake in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

Shares of NYSE T traded down $0.10 during midday trading on Thursday, reaching $28.97. 24,651,145 shares of the company were exchanged, compared to its average volume of 36,990,352. The stock's 50-day moving average price is $28.05 and its 200-day moving average price is $27.45. The stock has a market cap of $207.11 billion, a P/E ratio of 16.46, a PEG ratio of 3.53 and a beta of 0.42. AT&T Inc. has a one year low of $19.62 and a one year high of $29.65. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James Financial reissued a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Scotiabank raised their price objective on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Finally, UBS Group restated a "buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.