Cozad Asset Management Inc. Sells 4,095 Shares of AT&T Inc. (NYSE:T)

Cozad Asset Management Inc. lessened its holdings in AT&T Inc. (NYSE:T) by 12.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,218 shares of the technology company’s stock after selling 4,095 shares during the period. Cozad Asset Management Inc.’s holdings in AT&T were worth $497,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of AT&T during the 4th quarter valued at approximately $1,118,288,000. Thornburg Investment Management Inc. bought a new position in shares of AT&T during the 4th quarter valued at approximately $316,472,000. Kodai Capital Management LP bought a new position in shares of AT&T during the 4th quarter valued at approximately $152,109,000. Point72 Asset Management L.P. boosted its position in shares of AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after acquiring an additional 4,970,954 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of AT&T by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after acquiring an additional 4,014,873 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $19.10 on Thursday. AT&T Inc. has a 12 month low of $13.89 and a 12 month high of $19.32. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The company’s fifty day moving average price is $18.09 and its 200 day moving average price is $17.38. The firm has a market capitalization of $136.95 billion, a P/E ratio of 10.30, a P/E/G ratio of 3.56 and a beta of 0.58.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.81%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of analysts recently issued reports on T shares. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Monday, April 29th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. UBS Group restated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target on shares of AT&T in a research report on Wednesday, July 10th. Finally, Scotiabank raised their price target on AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.85.

AT&T Profile

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.