Jackson Square Capital LLC Has $8.21 Million Stake in AT&T Inc. (NYSE:T)

Jackson Square Capital LLC raised its holdings in AT&T Inc. (NYSE:T) by 20.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,436 shares of the technology company’s stock after purchasing an additional 50,185 shares during the quarter. AT&T accounts for 2.7% of Jackson Square Capital LLC’s investment portfolio, making the stock its 10th largest position. Jackson Square Capital LLC’s holdings in AT&T were worth $8,214,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new position in shares of AT&T during the 4th quarter valued at $25,000. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new position in shares of AT&T during the 4th quarter valued at $27,000. Marshall Investment Management LLC purchased a new position in shares of AT&T during the 4th quarter valued at $28,000. Finally, Tradewinds Capital Management LLC lifted its holdings in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.5%

T opened at $28.13 on Friday. The stock has a market cap of $202.43 billion, a PE ratio of 18.88, a PEG ratio of 3.00 and a beta of 0.41. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average of $27.41 and a 200-day moving average of $25.63. AT&T Inc. has a 52 week low of $17.49 and a 52 week high of $29.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent research reports. Evercore ISI increased 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. Citigroup reissued a “buy” rating on shares of AT&T in a report on Monday, April 7th. Tigress Financial increased their price objective on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company raised their price target on AT&T from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price target (up previously from $30.00) on shares of AT&T in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.71.

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.