AT&T Inc. $T is Jackson Square Capital LLC's 9th Largest Position

Key Points

• Jackson Square Capital LLC increased its holdings in AT&T Inc. by 21.6% in Q2, now owning $10.22 million worth, which makes it the ninth largest position in their portfolio.
• AT&T reported better-than-expected quarterly earnings with $0.54 earnings per share, beating estimates by $0.01, and a revenue of $30.85 billion, reflecting a 3.4% year-over-year growth.
• The company announced a quarterly dividend of $0.2775 per share with an annualized yield of 3.8%, emphasizing a stable commitment to returning value to shareholders.

Jackson Square Capital LLC grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 21.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 353,133 shares of the technology company's stock after acquiring an additional 62,697 shares during the quarter. AT&T accounts for approximately 2.3% of Jackson Square Capital LLC's holdings, making the stock its 9th biggest holding. Jackson Square Capital LLC's holdings in AT&T were worth $10,220,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the fourth quarter worth $25,000. Stone House Investment Management LLC purchased a new stake in shares of AT&T in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T during the 2nd quarter valued at about $26,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC lifted 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 valued at $28,000 after acquiring an additional 641 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

AT&T stock traded down $0.16 during mid-day trading on Friday, hitting $29.04. The company had a trading volume of 62,059,787 shares, compared to its average volume of 36,513,551. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a market capitalization of $207.65 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 3.65 and a beta of 0.44. 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's fifty day moving average is $28.41 and its 200-day moving average is $27.79.

AT&T (NYSE:T - Get Free Report) last announced 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 company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm posted $0.51 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Analyst Ratings Changes

T has been the topic of several recent research reports. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Sanford C. Bernstein lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Finally, UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

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.