Woodline Partners LP Has $15.75 Million Stake in AT&T Inc. $T

Key Points

• Woodline Partners LP has reduced its stake in AT&T Inc. by 44.7%, now holding shares valued at approximately $15.75 million.
• AT&T reported $30.85 billion in revenue for the last quarter, surpassing analysts' expectations, and showed a year-over-year revenue increase of 3.4%.
• The company has declared a quarterly dividend of $0.2775 per share, representing an annual yield of 3.8%.

Woodline Partners LP lowered its position in AT&T Inc. (NYSE:T - Free Report) by 44.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 557,042 shares of the technology company's stock after selling 449,363 shares during the period. Woodline Partners LP's holdings in AT&T were worth $15,753,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Stone House Investment Management LLC acquired a new position in shares of AT&T in the 1st quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC lifted its position in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

Shares of T stock opened at $29.21 on Thursday. The firm has a market capitalization of $208.88 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44. The firm has a fifty day simple moving average of $28.26 and a two-hundred day simple moving average of $27.69. 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.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on T. UBS Group set a $32.00 target price on shares of AT&T in a research report on Thursday, September 4th. Citigroup reiterated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $30.60.

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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