Longfellow Investment Management Co. LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Key Points

• Longfellow Investment Management Co. LLC reduced its holdings in AT&T Inc. by 42.3%, selling 35,430 shares and bringing its total to 48,354 shares worth $1.37 million.
• Institutional ownership is significant, with 57.10% of AT&T stock held by large investors, including Vanguard Group, which increased its stake by 1.3% to over 651 million shares.
• AT&T reported a quarterly EPS of $0.54, exceeding expectations, along with a 4.0% dividend yield following a recent quarterly dividend declaration.

Longfellow Investment Management Co. LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,354 shares of the technology company's stock after selling 35,430 shares during the quarter. Longfellow Investment Management Co. LLC's holdings in AT&T were worth $1,367,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in T. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in AT&T in the 4th quarter valued at $25,000. Putney Financial Group LLC acquired a new position in AT&T in the 4th quarter valued at $27,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Finally, Core Alternative Capital raised its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on T. Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Citigroup reissued a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. UBS Group reissued a "buy" rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. TD Securities increased their price objective on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Trading Up 1.3%

Shares of NYSE T traded up $0.37 during mid-day trading on Tuesday, reaching $28.51. 30,754,806 shares of the company's stock were exchanged, compared to its average volume of 33,253,296. The firm has a market capitalization of $203.86 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 3.49 and a beta of 0.42. 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 Inc. has a 52-week low of $18.97 and a 52-week high of $29.19. The company's 50-day moving average is $27.85 and its 200-day moving average is $27.12.

AT&T (NYSE:T - Get Free Report) last released its quarterly 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 return on equity of 13.36% and a net margin of 10.29%. The business had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the prior year, the business posted $0.51 EPS. The company's revenue was up 3.4% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

About AT&T

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.