Gagnon Securities LLC Has $821,000 Stake in AT&T Inc. $T

Key Points

• Gagnon Securities LLC reduced its stake in AT&T Inc. by 28.2% in Q2, now holding 28,355 shares valued at $821,000.
• AT&T reported earnings of $0.54 per share for Q2, beating estimates, with revenue up 3.4% year-over-year at $30.85 billion.
• AT&T declared a quarterly dividend of $0.2775 per share, with an annualized yield of 4.2%, to be paid on November 3rd.

Gagnon Securities LLC trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 28.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,355 shares of the technology company's stock after selling 11,133 shares during the period. Gagnon Securities LLC's holdings in AT&T were worth $821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of T. Stone House Investment Management LLC bought a new position in shares of AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter worth about $26,000. Kennebec Savings Bank lifted its holdings in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock worth $28,000 after acquiring an additional 783 shares during the period. Hager Investment Management Services LLC lifted its holdings in shares of 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 acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. bought a new position in shares of AT&T during the 1st quarter worth about $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on T shares. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Morgan Stanley lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Trading Up 1.0%

Shares of NYSE T opened at $26.13 on Wednesday. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a market cap of $186.85 billion, a PE ratio of 14.85, a P/E/G ratio of 3.31 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $28.54 and a two-hundred day moving average of $27.91.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. AT&T's payout ratio is currently 63.07%.

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.

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