Coombe Bender & Co LLC Has $493,000 Stock Position in AT&T Inc. (NYSE:T)

Coombe Bender & Co LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 61.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,409 shares of the technology company’s stock after selling 47,106 shares during the quarter. Coombe Bender & Co LLC’s holdings in AT&T were worth $493,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Newport Trust Company LLC grew its stake in AT&T by 0.3% in the 3rd quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after purchasing an additional 673,043 shares during the period. Northern Trust Corp grew its position in AT&T by 2.5% during the 3rd quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after acquiring an additional 1,828,237 shares during the last quarter. Bank of New York Mellon Corp grew its position in AT&T by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock worth $905,258,000 after acquiring an additional 334,222 shares during the last quarter. FMR LLC grew its position in AT&T by 130.5% during the 3rd quarter. FMR LLC now owns 57,515,546 shares of the technology company’s stock worth $863,884,000 after acquiring an additional 32,558,342 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in AT&T by 185.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 52,613,513 shares of the technology company’s stock worth $790,301,000 after buying an additional 34,189,954 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 0.8 %

T traded down $0.13 during trading hours on Thursday, reaching $16.79. The company’s stock had a trading volume of 11,606,344 shares, compared to its average volume of 39,036,805. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The stock has a market cap of $120.10 billion, a PE ratio of 9.05, a P/E/G ratio of 3.32 and a beta of 0.57. The business’s 50-day moving average is $16.96 and its 200-day moving average is $16.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.24 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

A number of research firms have recently commented on T. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research note on Friday, January 19th. Scotiabank lifted their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday, April 25th. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Monday. TheStreet raised AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Finally, Citigroup lifted their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Company 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.