Cohen Capital Management Inc. Lowers Holdings in AT&T Inc. (NYSE:T)

Cohen Capital Management Inc. lowered its stake in shares of AT&T Inc. (NYSE:T) by 14.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 9,775 shares of the technology company’s stock after selling 1,675 shares during the period. Cohen Capital Management Inc.’s holdings in AT&T were worth $215,000 at the end of the most recent quarter.

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

AT&T Price Performance

T opened at $22.12 on Monday. The firm has a market cap of $158.72 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 3.38 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 stock’s 50-day moving average price is $21.47 and its 200 day moving average price is $19.36. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on T shares. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Oppenheimer raised their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company lowered their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Company 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.