Jackson Square Capital LLC Sells 22,468 Shares of AT&T Inc. (NYSE:T)

Jackson Square Capital LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,251 shares of the technology company’s stock after selling 22,468 shares during the period. AT&T accounts for approximately 1.3% of Jackson Square Capital LLC’s portfolio, making the stock its 21st largest holding. Jackson Square Capital LLC’s holdings in AT&T were worth $5,471,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blair William & Co. IL increased its holdings in AT&T by 4.4% during the 2nd quarter. Blair William & Co. IL now owns 406,190 shares of the technology company’s stock worth $7,762,000 after acquiring an additional 17,001 shares during the period. Ieq Capital LLC increased its holdings in shares of AT&T by 30.9% in the second quarter. Ieq Capital LLC now owns 317,047 shares of the technology company’s stock worth $6,059,000 after purchasing an additional 74,764 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of AT&T by 110.3% in the second quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after purchasing an additional 3,228,888 shares during the period. Bridges Investment Management Inc. boosted its stake in AT&T by 1.5% during the second quarter. Bridges Investment Management Inc. now owns 41,764 shares of the technology company’s stock valued at $798,000 after buying an additional 621 shares during the period. Finally, Sei Investments Co. grew its position in AT&T by 7.6% during the second quarter. Sei Investments Co. now owns 2,876,014 shares of the technology company’s stock worth $54,961,000 after buying an additional 202,159 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $22.30 on Friday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $24.03. The firm has a market capitalization of $159.97 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.46 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $21.31.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the company posted $0.64 EPS. AT&T’s revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several analysts have weighed in on T shares. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. UBS Group increased their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $22.00 to $26.00 in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.