Lansforsakringar Fondforvaltning AB publ Sells 98,805 Shares of AT&T Inc. $T

Key Points

• Lansforsakringar Fondforvaltning AB has trimmed its stake in AT&T by 4.1%, owning 2,315,450 shares valued at approximately $65.5 million after selling 98,805 shares in the first quarter.
• AT&T recently posted earnings of $0.54 per share, exceeding estimates, with revenues of $30.85 billion, marking a year-over-year increase of 3.4%.
• The company declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend of $1.11 and a yield of 3.8%.

Lansforsakringar Fondforvaltning AB publ reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 4.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,315,450 shares of the technology company's stock after selling 98,805 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in AT&T were worth $65,481,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of T. Nuveen LLC acquired a new stake in AT&T during the 1st quarter worth approximately $1,072,128,000. GQG Partners LLC raised its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after buying an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP raised its holdings in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after buying an additional 8,841,126 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. 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 report on Thursday, July 10th. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.21.

AT&T Stock Up 1.2%

T traded up $0.35 during trading on Friday, reaching $29.29. 26,535,515 shares of the stock were exchanged, compared to its average volume of 29,711,526. The stock has a market cap of $209.43 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 3.58 and a beta of 0.42. AT&T Inc. has a twelve month low of $19.62 and a twelve month high of $29.65. The stock's 50 day moving average price is $28.11 and its two-hundred day moving average price is $27.51. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last issued 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. 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. Equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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