Curbstone Financial Management Corp Decreases Stake in AT&T Inc. (NYSE:T)


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Curbstone Financial Management Corp lowered its position in AT&T Inc. (NYSE:T) by 2.2% in the first quarter, Holdings Channel reports. The fund owned 43,608 shares of the technology company’s stock after selling 1,000 shares during the period. Curbstone Financial Management Corp’s holdings in AT&T were worth $1,320,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new stake in AT&T during the fourth quarter worth approximately $2,019,873,000. Voloridge Investment Management LLC raised its holdings in AT&T by 850.8% during the third quarter. Voloridge Investment Management LLC now owns 12,181,178 shares of the technology company’s stock worth $347,285,000 after purchasing an additional 10,900,074 shares in the last quarter. Morgan Stanley raised its holdings in AT&T by 4.9% during the fourth quarter. Morgan Stanley now owns 78,703,060 shares of the technology company’s stock worth $2,263,501,000 after purchasing an additional 3,680,978 shares in the last quarter. BlackRock Inc. raised its holdings in AT&T by 0.8% during the fourth quarter. BlackRock Inc. now owns 485,568,654 shares of the technology company’s stock worth $13,964,955,000 after purchasing an additional 3,666,423 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in AT&T by 56.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 10,121,975 shares of the technology company’s stock worth $291,106,000 after purchasing an additional 3,663,529 shares in the last quarter. Institutional investors own 51.17% of the company’s stock.

T traded down $0.72 on Thursday, hitting $30.21. 448,520 shares of the company were exchanged, compared to its average volume of 44,308,855. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.84 and a current ratio of 0.84. The business’s fifty day moving average is $29.64 and its 200 day moving average is $28.91. AT&T Inc. has a fifty-two week low of $26.35 and a fifty-two week high of $33.24. The firm has a market capitalization of $215.45 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 3.04 and a beta of 0.70.

AT&T (NYSE:T) last issued its earnings results on Tuesday, January 26th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.02. AT&T had a net margin of 6.42% and a return on equity of 12.27%. The company had revenue of $45.70 billion for the quarter, compared to analyst estimates of $44.58 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 3.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 9th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, April 8th. This represents a $2.08 annualized dividend and a yield of 6.89%. AT&T’s payout ratio is currently 58.26%.

A number of equities analysts have recently commented on T shares. Credit Suisse Group cut their target price on shares of AT&T from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 19th. Oppenheimer reaffirmed a “market perform” rating on shares of AT&T in a report on Wednesday, March 3rd. CIBC reaffirmed a “buy” rating on shares of AT&T in a report on Wednesday, February 10th. Zacks Investment Research raised shares of AT&T from a “sell” rating to a “hold” rating and set a $33.00 target price on the stock in a report on Thursday, December 10th. Finally, Raymond James reaffirmed a “buy” rating on shares of AT&T in a report on Monday, March 15th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.47.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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