Townsquare Capital LLC Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Key Points

• Townsquare Capital LLC reduced its holdings in AT&T Inc. by 9.1%, owning 692,200 shares after selling 69,039 shares, valued at $19.58 million.
• AT&T reported $0.54 earnings per share for the recent quarter, surpassing analyst expectations of $0.53, with revenues reaching $30.85 billion.
• The company recently announced a quarterly dividend of $0.2775 per share, yielding 4.0%, with a dividend payout ratio of 63.07%.

Townsquare Capital LLC lowered its stake in AT&T Inc. (NYSE:T - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 692,200 shares of the technology company's stock after selling 69,039 shares during the period. Townsquare Capital LLC's holdings in AT&T were worth $19,575,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. AllSquare Wealth Management LLC boosted its stake in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC boosted its position in AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the period. Kozak & Associates Inc. increased its stake in AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after purchasing an additional 398 shares during the last quarter. Finally, Silver Oak Securities Incorporated lifted its position in AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after buying an additional 398 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

Shares of NYSE T opened at $28.05 on Friday. AT&T Inc. has a 52 week low of $18.97 and a 52 week high of $29.19. The stock has a 50 day moving average price of $27.83 and a 200 day moving average price of $26.97. 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 stock has a market capitalization of $200.59 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 3.41 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share 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 analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cowen reaffirmed a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Tigress Financial boosted their target price on shares of AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Evercore ISI lifted their price objective on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $29.66.

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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