Cim Investment Management Inc. Lowers Stock Holdings in AT&T Inc. (NYSE:T)

Cim Investment Management Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 4.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 48,845 shares of the technology company’s stock after selling 2,396 shares during the period. Cim Investment Management Inc.’s holdings in AT&T were worth $1,406,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in T. OLD Mission Capital LLC purchased a new position in shares of AT&T during the third quarter valued at approximately $453,000. Camden National Bank purchased a new position in shares of AT&T during the fourth quarter valued at approximately $278,000. E Fund Management Co. Ltd. purchased a new position in shares of AT&T during the first quarter valued at approximately $380,000. Cresset Asset Management LLC lifted its holdings in shares of AT&T by 28.5% during the first quarter. Cresset Asset Management LLC now owns 171,932 shares of the technology company’s stock valued at $5,205,000 after purchasing an additional 38,124 shares during the last quarter. Finally, Chilton Capital Management LLC increased its position in shares of AT&T by 62.7% during the first quarter. Chilton Capital Management LLC now owns 64,395 shares of the technology company’s stock valued at $1,949,000 after acquiring an additional 24,808 shares in the last quarter. Hedge funds and other institutional investors own 51.61% of the company’s stock.

T has been the subject of several analyst reports. Moffett Nathanson raised shares of AT&T from a “sell” rating to a “neutral” rating and raised their price target for the company from $23.00 to $28.00 in a research report on Thursday, October 7th. Citigroup reduced their price target on shares of AT&T from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, August 31st. Loop Capital initiated coverage on shares of AT&T in a research report on Monday, September 20th. They set a “hold” rating and a $30.00 price target for the company. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target for the company. in a research report on Tuesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Hold” and an average price target of $30.69.

NYSE:T traded up $0.36 during midday trading on Thursday, reaching $25.66. 1,581,306 shares of the stock traded hands, compared to its average volume of 40,974,293. AT&T Inc. has a 12-month low of $25.01 and a 12-month high of $33.88. The business has a 50-day moving average of $27.36 and a two-hundred day moving average of $28.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.73 and a current ratio of 0.77. The stock has a market capitalization of $183.21 billion, a PE ratio of -82.84, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.10. The firm had revenue of $44.05 billion for the quarter, compared to analyst estimates of $42.39 billion. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. Research analysts anticipate that AT&T Inc. will post 3.33 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Monday, October 11th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $2.08 annualized dividend and a yield of 8.11%. AT&T’s dividend payout ratio is presently 65.41%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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