Qtron Investments LLC Reduces Stock Holdings in AT&T Inc. $T

Key Points

• Qtron Investments LLC has reduced its stake in AT&T by 25.7%, selling 22,286 shares, and now holds 64,449 shares valued at approximately $1.82 million.
• AT&T's recent quarterly earnings report showed an EPS of $0.54, exceeding estimates, with a revenue of $30.85 billion, a 3.4% year-over-year increase.
• The company declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend yield of 3.8%.

Qtron Investments LLC decreased its stake in AT&T Inc. (NYSE:T - Free Report) by 25.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,449 shares of the technology company's stock after selling 22,286 shares during the quarter. Qtron Investments LLC's holdings in AT&T were worth $1,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. RW Investment Management LLC purchased a new position in AT&T during the 1st quarter valued at $226,000. Aptus Capital Advisors LLC boosted its holdings in AT&T by 11.0% during the 1st quarter. Aptus Capital Advisors LLC now owns 136,883 shares of the technology company's stock valued at $3,871,000 after acquiring an additional 13,613 shares during the period. Watts Gwilliam & Co. LLC purchased a new position in AT&T during the 1st quarter valued at $263,000. Brooklyn Investment Group boosted its holdings in AT&T by 18.2% during the 1st quarter. Brooklyn Investment Group now owns 65,637 shares of the technology company's stock valued at $1,856,000 after acquiring an additional 10,115 shares during the period. Finally, TriaGen Wealth Management LLC purchased a new position in AT&T during the 1st quarter valued at $202,000. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

Shares of T stock opened at $28.89 on Monday. The company has a market capitalization of $206.57 billion, a P/E ratio of 16.41, a P/E/G ratio of 3.57 and a beta of 0.42. The business's 50 day moving average is $27.90 and its two-hundred day moving average is $27.23. 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 12-month low of $19.08 and a 12-month high of $29.19.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for 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%. AT&T's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. 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. Shareholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T's dividend payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. TD Securities lifted their target price on AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. Wells Fargo & Company lifted their target price on 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 AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Barclays boosted their price target on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.21.

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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