LSV Asset Management Reduces Stock Holdings in AT&T Inc. (NYSE:T)

Key Points

• LSV Asset Management has reduced its stake in AT&T Inc. by 5.6% during the first quarter, now holding around 25.9 million shares, which represents approximately 1.8% of their total holdings.
• AT&T recently declared a quarterly dividend of $0.2775 per share, yielding about 4.0%, with a total annualized dividend of $1.11.
• Despite the stake reduction by LSV, other hedge funds have increased their positions significantly, including Brighton Jones LLC, which grew its position in AT&T by 26.5% in the fourth quarter.

LSV Asset Management trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,927,394 shares of the technology company's stock after selling 1,532,698 shares during the quarter. AT&T makes up 1.8% of LSV Asset Management's holdings, making the stock its largest holding. LSV Asset Management owned about 0.36% of AT&T worth $733,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of T. Brighton Jones LLC grew its position in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Wellington Management Group LLP grew its position in AT&T by 161.3% during the 4th quarter. Wellington Management Group LLP now owns 2,522,814 shares of the technology company's stock worth $57,444,000 after purchasing an additional 1,557,431 shares in the last quarter. World Investment Advisors grew its position in AT&T by 36.4% during the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company's stock worth $5,407,000 after purchasing an additional 63,359 shares in the last quarter. Yoffe Investment Management LLC purchased a new position in AT&T during the 4th quarter worth approximately $213,000. Finally, Thoroughbred Financial Services LLC grew its position in AT&T by 3.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 19,544 shares of the technology company's stock worth $445,000 after purchasing an additional 591 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE T opened at $27.76 on Friday. The firm has a market cap of $198.49 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.40 and a beta of 0.42. The company has a 50 day moving average of $27.80 and a 200-day moving average of $26.81. 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 Inc. has a 1-year low of $18.64 and a 1-year high of $29.19.

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

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is 63.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group restated a "buy" rating and set a $31.00 price target (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Barclays boosted their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, June 17th. Finally, Cowen restated a "hold" rating on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T has a consensus rating of "Moderate Buy" and an average price target of $29.66.

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.

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