AT&T Inc. $T Shares Sold by Sessa Capital IM L.P.

Key Points

• Sessa Capital IM L.P. has reduced its holdings in AT&T Inc. by 20.5%, now owning approximately $82.47 million worth of shares, making it the 11th largest holding in their portfolio.
• Institutional investors and hedge funds collectively own 57.10% of AT&T's stock, with several new stakes being acquired recently, indicating ongoing interest in the technology company.
• AT&T reported $0.54 earnings per share for the last quarter, exceeding analyst expectations, while also announcing a quarterly dividend of $0.2775, reflecting a 3.8% dividend yield.

Sessa Capital IM L.P. lowered its position in shares of AT&T Inc. (NYSE:T - Free Report) by 20.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,916,191 shares of the technology company's stock after selling 750,000 shares during the period. AT&T comprises about 3.2% of Sessa Capital IM L.P.'s holdings, making the stock its 11th largest position. Sessa Capital IM L.P.'s holdings in AT&T were worth $82,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Yoffe Investment Management LLC purchased a new stake in AT&T in the 4th quarter valued at approximately $213,000. Fiduciary Trust Co boosted its holdings in AT&T by 1.0% in the 4th quarter. Fiduciary Trust Co now owns 92,269 shares of the technology company's stock valued at $2,101,000 after purchasing an additional 889 shares in the last quarter. Focus Partners Wealth boosted its holdings in AT&T by 59.2% in the 4th quarter. Focus Partners Wealth now owns 1,235,890 shares of the technology company's stock valued at $29,120,000 after purchasing an additional 459,410 shares in the last quarter. Finally, Graham Capital Management L.P. boosted its holdings in AT&T by 323.5% in the 4th quarter. Graham Capital Management L.P. now owns 94,511 shares of the technology company's stock valued at $2,152,000 after purchasing an additional 72,193 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

T stock traded down $0.69 on Monday, reaching $28.91. The company had a trading volume of 40,572,915 shares, compared to its average volume of 27,213,860. AT&T Inc. has a 1 year low of $20.92 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company's fifty day moving average is $28.23 and its 200 day moving average is $27.66. The company has a market cap of $206.68 billion, a P/E ratio of 16.42, a PEG ratio of 3.66 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last posted its earnings results 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. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 EPS. AT&T's revenue was up 3.4% on a year-over-year basis. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's dividend payout ratio is presently 63.07%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on T shares. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target on the stock. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Finally, Scotiabank boosted their price target on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.60.

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.