Kooman & Associates Reduces Position in AT&T Inc. (NYSE:T)

Kooman & Associates lessened its holdings in shares of AT&T Inc. (NYSE:T) by 23.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,368 shares of the technology company’s stock after selling 2,568 shares during the period. Kooman & Associates’ holdings in AT&T were worth $237,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Next Level Private LLC boosted its holdings in shares of AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after purchasing an additional 379 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings in shares of AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after purchasing an additional 384 shares during the period. Kozak & Associates Inc. boosted its holdings in shares of AT&T by 9.4% in the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after purchasing an additional 398 shares during the period. Silver Oak Securities Incorporated boosted its holdings in shares of AT&T by 0.3% in the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company’s stock valued at $3,222,000 after purchasing an additional 398 shares during the period. Finally, Firethorn Wealth Partners LLC boosted its holdings in shares of AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock valued at $286,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T opened at $26.95 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock’s fifty day moving average price is $27.77 and its 200 day moving average price is $26.38. AT&T Inc. has a 1 year low of $18.14 and a 1 year high of $29.19. The company has a market cap of $193.89 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.37 and a beta of 0.42.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. AT&T’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, July 10th. AT&T’s payout ratio is currently 68.10%.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. Barclays upped their target price on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. TD Securities upped their target price on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. Tigress Financial upped their target price on AT&T from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, June 17th. Finally, Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.17.

About AT&T

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.