Jackson Square Capital LLC Raises Stake in AT&T Inc. (NYSE:T)

Jackson Square Capital LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 50.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 262,719 shares of the technology company’s stock after buying an additional 88,648 shares during the period. AT&T accounts for approximately 1.4% of Jackson Square Capital LLC’s portfolio, making the stock its 22nd largest holding. Jackson Square Capital LLC’s holdings in AT&T were worth $5,780,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of T. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC increased its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Reston Wealth Management LLC purchased a new position in AT&T during the third quarter worth approximately $35,000. Altshuler Shaham Ltd acquired a new position in shares of AT&T in the 2nd quarter valued at $30,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AT&T during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.2 %

NYSE:T opened at $22.32 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73. The business’s 50-day simple moving average is $21.61 and its 200 day simple moving average is $19.46. The stock has a market cap of $160.15 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.97%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research analyst reports. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Evercore ISI raised their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.