Swedbank AB Sells 97,842 Shares of AT&T Inc. $T

Key Points

• Swedbank AB reduced its holdings in AT&T by 2.9%, selling 97,842 shares, bringing its total to 3,288,421 shares, valued at approximately $93 million.
• AT&T reported earnings of $0.54 EPS for the last quarter, exceeding the analyst estimates of $0.53, with revenues rising 3.4% year-over-year to $30.85 billion.
• The company declared a quarterly dividend of $0.2775 per share, which results in an annualized yield of 3.8%, with a payout ratio of 63.07%.

Swedbank AB lessened its position in AT&T Inc. (NYSE:T - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,288,421 shares of the technology company's stock after selling 97,842 shares during the period. Swedbank AB's holdings in AT&T were worth $92,997,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in T. Capital A Wealth Management LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC acquired a new stake in AT&T in the first quarter valued at approximately $25,000. Putney Financial Group LLC acquired a new stake in AT&T in the fourth quarter valued at approximately $27,000. Hager Investment Management Services LLC grew its stake in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares during the period. Finally, Core Alternative Capital grew its stake in AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

Shares of AT&T stock opened at $29.59 on Friday. The business's fifty day simple moving average is $28.31 and its 200 day simple moving average is $27.73. 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 $21.05 and a 12 month high of $29.79. The firm has a market capitalization of $211.58 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44.

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, 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 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 quarter in the prior year, the company earned $0.51 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.2775 dividend. 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 payout ratio is 63.07%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. UBS Group set a $32.00 price objective on AT&T in a research note on Thursday, September 4th. Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Citigroup reissued a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. Finally, Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $30.60.

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.

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