V Square Quantitative Management LLC Has $1.11 Million Holdings in AT&T Inc. $T

Key Points

• V Square Quantitative Management LLC reduced its stake in AT&T by 66.4% in Q2, holding 38,431 shares valued at $1.11 million after selling over 75,000 shares.
• AT&T announced a quarterly dividend of $0.2775 per share, resulting in an annualized yield of 4.0%, with an ex-dividend date of October 10th.
• The company's stock has a current market cap of $200.71 billion, and recent earnings results showed a revenue increase of 3.4% year-over-year.

V Square Quantitative Management LLC trimmed its stake in AT&T Inc. (NYSE:T - Free Report) by 66.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,431 shares of the technology company's stock after selling 75,832 shares during the quarter. V Square Quantitative Management LLC's holdings in AT&T were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the second quarter worth $26,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after acquiring an additional 641 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in AT&T during the first quarter valued at $29,000. Finally, Core Alternative Capital boosted its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.8%

Shares of AT&T stock opened at $28.07 on Tuesday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company's fifty day simple moving average is $28.62 and its 200-day simple moving average is $27.91. The company has a market cap of $200.71 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 3.62 and a beta of 0.44. 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 (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. AT&T's dividend payout ratio (DPR) is 63.07%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Bank of America began coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. 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 research report on Thursday, July 24th. Finally, Sanford C. Bernstein increased their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.