AT&T Inc. $T Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in AT&T by 17.9%, acquiring an additional 72,774 shares, bringing their total holdings to 478,582 shares valued at approximately $13.53 million.
• AT&T reported earnings of $0.54 per share, surpassing analysts' expectations, with a revenue of $30.85 billion for the quarter, a year-over-year increase of 3.4%.
• The company declared a quarterly dividend of $0.2775 per share, yielding about 3.8%, with a payout ratio of 63.07%.

Ieq Capital LLC lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 17.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 478,582 shares of the technology company's stock after purchasing an additional 72,774 shares during the period. Ieq Capital LLC's holdings in AT&T were worth $13,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in T. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in AT&T during the fourth quarter worth about $25,000. Stone House Investment Management LLC acquired a new position in AT&T during the first quarter worth about $25,000. Putney Financial Group LLC acquired a new position in AT&T during the fourth quarter worth about $27,000. Finally, Hager Investment Management Services LLC raised its position in AT&T by 182.1% during the first 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 last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the subject of a number of research reports. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday. Bank of America initiated coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. UBS Group restated a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.21.

AT&T Stock Performance

NYSE:T traded up $0.35 during mid-day trading on Friday, hitting $29.29. The stock had a trading volume of 26,535,515 shares, compared to its average volume of 29,711,526. The stock has a market capitalization of $209.43 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 3.58 and a beta of 0.42. The company has a 50 day simple moving average of $28.11 and a 200-day simple moving average of $27.51. AT&T Inc. has a 52 week low of $19.62 and a 52 week high of $29.65. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm 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%. AT&T'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 EPS. On average, research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

AT&T 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.