Redwood Investment Management LLC Sells 15,433 Shares of AT&T Inc. $T

Key Points

• Redwood Investment Management LLC reduced its holdings in AT&T Inc. by 17.2%, selling 15,433 shares during the first quarter and now owning 74,418 shares valued at approximately $2.1 million.
• AT&T recently reported quarterly earnings of $0.54 per share, exceeding expectations, with a revenue of $30.85 billion, showing a year-over-year increase of 3.4%.
• The company declared a quarterly dividend of $0.2775 per share, yielding 3.9%, while its payout ratio stands at 63.07%.

Redwood Investment Management LLC cut its position in shares of AT&T Inc. (NYSE:T - Free Report) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,418 shares of the technology company's stock after selling 15,433 shares during the period. Redwood Investment Management LLC's holdings in AT&T were worth $2,105,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Gamco Investors INC. ET AL increased its stake in shares of AT&T by 0.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 769,211 shares of the technology company's stock worth $21,753,000 after purchasing an additional 4,702 shares during the last quarter. PKS Advisory Services LLC boosted its holdings in shares of AT&T by 20.5% during the 1st quarter. PKS Advisory Services LLC now owns 45,609 shares of the technology company's stock worth $1,288,000 after buying an additional 7,760 shares during the period. Widmann Financial Services Inc. boosted its holdings in shares of AT&T by 6.0% during the 1st quarter. Widmann Financial Services Inc. now owns 69,328 shares of the technology company's stock worth $1,961,000 after buying an additional 3,915 shares during the period. WealthTrust Axiom LLC boosted its holdings in shares of AT&T by 2.3% during the 1st quarter. WealthTrust Axiom LLC now owns 132,017 shares of the technology company's stock worth $3,733,000 after buying an additional 2,994 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of AT&T by 8.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,917,134 shares of the technology company's stock worth $308,737,000 after buying an additional 841,017 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE T traded up $0.50 during trading on Wednesday, reaching $29.06. The company's stock had a trading volume of 28,008,730 shares, compared to its average volume of 30,288,118. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $207.75 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 3.53 and a beta of 0.42. AT&T Inc. has a 12 month low of $19.62 and a 12 month high of $29.65. The firm has a 50 day moving average price of $28.05 and a 200 day moving average price of $27.45.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 10.29% and a return on equity of 13.36%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is 63.07%.

Wall Street Analyst Weigh In

Several brokerages recently commented on T. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted 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. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday. Finally, Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average target price of $30.21.

AT&T Company 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.