AT&T Inc. $T is Point72 Europe London LLP's 9th Largest Position

Key Points

• Point72 Europe London LLP significantly reduced its stake in AT&T Inc. by 71.4%, now holding approximately $28.04 million in shares.
• AT&T's latest earnings report showed a quarterly revenue of $30.85 billion, surpassing estimates, with an earnings per share (EPS) of $0.54, exceeding expectations by $0.01.
• The company's recent quarterly dividend of $0.2775 per share reflects an annualized dividend yield of 3.8% and a payout ratio of 63.07%.

Point72 Europe London LLP lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 71.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 991,589 shares of the technology company's stock after selling 2,478,088 shares during the quarter. AT&T accounts for approximately 1.9% of Point72 Europe London LLP's investment portfolio, making the stock its 9th largest position. Point72 Europe London LLP's holdings in AT&T were worth $28,042,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of T. Minot DeBlois Advisors LLC bought a new position in AT&T during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in AT&T during the fourth quarter valued at about $25,000. Stone House Investment Management LLC bought a new position in AT&T during the first quarter valued at about $25,000. Putney Financial Group LLC bought a new position in AT&T during the fourth quarter valued at about $27,000. Finally, Hager Investment Management Services LLC boosted its stake 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 valued at $28,000 after buying an additional 641 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

T has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Raymond James Financial reiterated a "strong-buy" rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Wells Fargo & Company increased their price target on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. One equities research 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 issued a Sell rating to the company. According to MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $30.21.

AT&T Stock Up 1.2%

AT&T stock traded up $0.35 during mid-day trading on Monday, hitting $29.29. The company's stock had a trading volume of 26,535,515 shares, compared to its average volume of 29,098,794. The firm's 50 day moving average is $28.13 and its 200 day moving average is $27.56. The company has a market cap of $209.43 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a 52-week low of $19.62 and a 52-week high of $29.65.

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 (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, analysts anticipate that AT&T Inc. will post 2.14 earnings per share 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 paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is currently 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.