Coastwise Capital Group LLC Sells 2,873 Shares of AT&T Inc. (NYSE:T)

Coastwise Capital Group LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,191 shares of the technology company’s stock after selling 2,873 shares during the quarter. AT&T makes up approximately 1.5% of Coastwise Capital Group LLC’s holdings, making the stock its 16th biggest holding. Coastwise Capital Group LLC’s holdings in AT&T were worth $1,830,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP acquired a new stake in shares of AT&T in the second quarter valued at $23,888,000. Swiss National Bank increased its position in AT&T by 0.5% in the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after acquiring an additional 104,700 shares in the last quarter. Caprock Group LLC increased its position in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares in the last quarter. Talbot Financial LLC acquired a new position in shares of AT&T during the third quarter worth approximately $7,438,000. Finally, Mackenzie Financial Corp grew its stake in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on T shares. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Citigroup raised their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Oppenheimer lifted their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Finally, Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.53.

AT&T Stock Down 0.5 %

NYSE:T opened at $23.16 on Monday. The stock has a market cap of $166.18 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.48 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $22.17 and a two-hundred day moving average price of $20.17. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.38.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. As a group, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is 90.24%.

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.