AT&T Inc. (NYSE:T) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in AT&T Inc. (NYSE:TFree Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,114,857 shares of the technology company’s stock after selling 64,416 shares during the quarter. CIBC Asset Management Inc’s holdings in AT&T were worth $18,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. NEOS Investment Management LLC raised its position in AT&T by 26.0% during the 4th quarter. NEOS Investment Management LLC now owns 100,758 shares of the technology company’s stock worth $1,691,000 after buying an additional 20,775 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of AT&T by 19.9% in the 4th quarter. CWA Asset Management Group LLC now owns 19,287 shares of the technology company’s stock valued at $324,000 after buying an additional 3,204 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of AT&T by 9.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,616,604 shares of the technology company’s stock valued at $127,807,000 after buying an additional 676,012 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in AT&T by 18.8% during the fourth quarter. Jones Financial Companies Lllp now owns 30,918 shares of the technology company’s stock worth $519,000 after acquiring an additional 4,882 shares during the period. Finally, KBC Group NV raised its position in AT&T by 3.5% in the fourth quarter. KBC Group NV now owns 4,079,758 shares of the technology company’s stock worth $68,459,000 after acquiring an additional 137,691 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of NYSE:T traded up $0.28 during trading on Tuesday, reaching $18.29. 20,529,257 shares of the company’s stock traded hands, compared to its average volume of 37,106,941. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.33. The company has a 50 day moving average of $17.10 and a 200-day moving average of $16.95. The stock has a market capitalization of $131.14 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 3.58 and a beta of 0.60.

AT&T (NYSE:TGet Free Report) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. AT&T’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.24 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.07%. The ex-dividend date was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on T shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a research report on Thursday, April 11th. Scotiabank lifted their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research note on Thursday, April 25th. Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday, April 29th. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Finally, StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.81.

View Our Latest Stock Report on T

AT&T Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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