Cim Investment Mangement Inc. decreased its holdings in AT&T Inc. (NYSE:T) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,150 shares of the technology company’s stock after selling 382 shares during the period. AT&T comprises approximately 0.5% of Cim Investment Mangement Inc.’s investment portfolio, making the stock its 28th biggest holding. Cim Investment Mangement Inc.’s holdings in AT&T were worth $1,025,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of AT&T by 39.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,496,810 shares of the technology company’s stock worth $58,495,000 after purchasing an additional 422,207 shares during the period. Bell Bank increased its stake in shares of AT&T by 25.6% during the fourth quarter. Bell Bank now owns 110,883 shares of the technology company’s stock worth $4,333,000 after purchasing an additional 22,606 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in AT&T during the fourth quarter worth approximately $24,341,000. Verus Capital Partners LLC acquired a new stake in AT&T during the fourth quarter worth approximately $7,348,000. Finally, Empirical Finance LLC grew its position in AT&T by 57.4% during the first quarter. Empirical Finance LLC now owns 41,362 shares of the technology company’s stock worth $1,206,000 after buying an additional 15,082 shares in the last quarter. Hedge funds and other institutional investors own 53.84% of the company’s stock.
A number of brokerages recently issued reports on T. UBS Group reduced their price target on AT&T from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Cowen downgraded AT&T from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $43.00 to $37.00 in a research report on Monday, March 23rd. Guggenheim reduced their price target on AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Cfra reduced their price target on AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Nomura Securities reduced their price target on AT&T from $44.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company. AT&T presently has an average rating of “Hold” and a consensus price target of $36.02.
AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.01). AT&T had a return on equity of 13.27% and a net margin of 8.05%. The firm had revenue of $42.78 billion during the quarter, compared to analyst estimates of $44.75 billion. During the same quarter last year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 3.23 EPS for the current year.
In other AT&T news, Director Geoffrey Y. Yang acquired 6,754 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were bought at an average cost of $29.39 per share, with a total value of $198,500.06. Following the purchase, the director now directly owns 9,398 shares of the company’s stock, valued at $276,207.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen J. Luczo acquired 36,000 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was acquired at an average cost of $29.38 per share, for a total transaction of $1,057,680.00. The disclosure for this purchase can be found here. 0.07% of the stock is owned by insiders.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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