Curbstone Financial Management Corp Trims Position in AT&T Inc. (NYSE:T)
Curbstone Financial Management Corp lessened its stake in AT&T Inc. (NYSE:T) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,608 shares of the technology company’s stock after selling 1,000 shares during the period. Curbstone Financial Management Corp’s holdings in AT&T were worth $1,320,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its position in AT&T by 413.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 37,300 shares of the technology company’s stock valued at $1,063,000 after purchasing an additional 30,029 shares during the period. Wealth Alliance increased its position in AT&T by 4.5% during the 3rd quarter. Wealth Alliance now owns 62,792 shares of the technology company’s stock valued at $1,790,000 after purchasing an additional 2,699 shares during the period. OLD Mission Capital LLC purchased a new position in AT&T during the 3rd quarter valued at about $453,000. Stumpf Capital Management LLC increased its position in AT&T by 194.7% during the 3rd quarter. Stumpf Capital Management LLC now owns 305,995 shares of the technology company’s stock valued at $8,724,000 after purchasing an additional 202,151 shares during the period. Finally, Cribstone Capital Management LLC increased its position in AT&T by 4.9% during the 3rd quarter. Cribstone Capital Management LLC now owns 49,098 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 2,304 shares during the period. 51.17% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. Morgan Stanley downgraded shares of AT&T from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $36.00 to $34.00 in a research report on Thursday, December 17th. Oppenheimer restated a “market perform” rating on shares of AT&T in a report on Wednesday, March 3rd. Credit Suisse Group lowered their price target on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Raymond James restated a “buy” rating on shares of AT&T in a report on Monday, March 15th. Finally, CIBC restated a “buy” rating on shares of AT&T in a report on Wednesday, February 10th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. AT&T has an average rating of “Hold” and a consensus target price of $31.47.
AT&T (NYSE:T) last posted its earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. AT&T had a net margin of 6.42% and a return on equity of 12.27%. The business had revenue of $45.70 billion for the quarter, compared to analyst estimates of $44.58 billion. During the same period in the prior year, the company posted $0.89 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 3.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Friday, April 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Thursday, April 8th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.
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