Coastwise Capital Group LLC Trims Stake in AT&T Inc. (NYSE:T)

Coastwise Capital Group LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,490 shares of the technology company’s stock after selling 5,701 shares during the period. AT&T comprises about 1.4% of Coastwise Capital Group LLC’s investment portfolio, making the stock its 18th biggest position. Coastwise Capital Group LLC’s holdings in AT&T were worth $1,764,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after buying an additional 3,630,972 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock valued at $168,969,000 after purchasing an additional 2,326,904 shares during the last quarter. National Pension Service grew its position in shares of AT&T by 15.8% during the third quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after purchasing an additional 2,152,016 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of AT&T by 112.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock worth $64,167,000 after purchasing an additional 1,546,679 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of AT&T by 7.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after buying an additional 1,206,330 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.8 %

Shares of AT&T stock opened at $24.04 on Friday. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.98. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.67. The stock has a market cap of $172.46 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.59. The firm has a fifty day moving average price of $22.91 and a 200 day moving average price of $21.59.

AT&T (NYSE:T) last announced its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Equities research analysts predict that AT&T Inc. will post 2.12 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.62%. AT&T’s payout ratio is 74.50%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price target on AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Barclays lifted their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada upped their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.11.

AT&T Profile

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.