Cohen Capital Management Inc. Sells 789 Shares of AT&T Inc. (NYSE:T)

Cohen Capital Management Inc. trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,986 shares of the technology company’s stock after selling 789 shares during the quarter. Cohen Capital Management Inc.’s holdings in AT&T were worth $205,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the period. Franklin Resources Inc. raised its stake in AT&T by 41.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company’s stock worth $168,969,000 after acquiring an additional 2,326,904 shares during the period. National Pension Service raised its stake in AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in AT&T by 112.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,916,698 shares of the technology company’s stock valued at $64,167,000 after purchasing an additional 1,546,679 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted 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 purchasing an additional 1,206,330 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on T shares. Royal Bank of Canada raised their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 16th. Barclays upped their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup lifted their target price on AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Tigress Financial upped their price target on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

AT&T Stock Up 1.9 %

Shares of NYSE:T opened at $26.64 on Friday. The company has a market cap of $191.19 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 3.00 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $26.72. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $23.50 and a 200 day moving average price of $22.30.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Friday, January 10th. AT&T’s dividend payout ratio (DPR) is 74.50%.

About AT&T

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.