Tobam Has $8.71 Million Stock Holdings in AT&T Inc. (NYSE:T)

Tobam lessened its holdings in AT&T Inc. (NYSE:T) by 46.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 382,301 shares of the technology company’s stock after selling 334,618 shares during the quarter. AT&T makes up approximately 2.7% of Tobam’s holdings, making the stock its biggest holding. Tobam’s holdings in AT&T were worth $8,705,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Chesapeake Wealth Management increased its stake in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after acquiring an additional 460 shares during the last quarter. Luts & Greenleigh Group Inc. grew its holdings in AT&T by 2.8% during the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company’s stock valued at $385,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC increased its stake in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC raised its holdings in AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after purchasing an additional 468 shares during the period. Finally, Essex Savings Bank boosted its position in shares of AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.1 %

Shares of AT&T stock opened at $24.46 on Friday. The stock has a market cap of $175.47 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.98. The business’s 50 day moving average is $22.99 and its 200-day moving average is $21.75.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts predict that AT&T Inc. will post 2.15 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Friday, January 10th. AT&T’s payout ratio is currently 74.50%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on T shares. Scotiabank upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 28th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, January 16th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.21.

AT&T Company 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.