Cozad Asset Management Inc. Reduces Stake in AT&T Inc. (NYSE:T)

Cozad Asset Management Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 7.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,108 shares of the technology company’s stock after selling 2,110 shares during the quarter. Cozad Asset Management Inc.’s holdings in AT&T were worth $499,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of AT&T in the 4th quarter valued at $11,554,000. Clearbridge Investments LLC raised its holdings in shares of AT&T by 250.3% in the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after buying an additional 48,091 shares during the last quarter. Summa Corp. acquired a new stake in shares of AT&T during the fourth quarter worth about $395,000. Skopos Labs Inc. purchased a new position in shares of AT&T during the fourth quarter worth about $839,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $20.58 on Thursday. The stock has a market capitalization of $147.56 billion, a P/E ratio of 11.06, a P/E/G ratio of 3.36 and a beta of 0.59. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $20.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm’s 50-day moving average is $19.23 and its two-hundred day moving average is $17.96.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the previous year, the firm posted $0.63 EPS. AT&T’s revenue was down .3% on a year-over-year basis. Equities analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.39%. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

T has been the subject of several research analyst reports. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Evercore ISI boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Barclays increased their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Profile

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.