CIBC Asset Management Inc Sells 50,206 Shares of AT&T Inc. $T

CIBC Asset Management Inc trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,001,595 shares of the technology company’s stock after selling 50,206 shares during the period. CIBC Asset Management Inc’s holdings in AT&T were worth $28,285,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Front Row Advisors LLC bought a new position in AT&T in the second quarter valued at approximately $25,000. Mountain Hill Investment Partners Corp. boosted its holdings in shares of AT&T by 363.7% in the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock valued at $25,000 after buying an additional 702 shares during the last quarter. Kennebec Savings Bank boosted its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the last quarter. Solstein Capital LLC grew its stake in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares in the last quarter. Finally, Curio Wealth LLC increased its holdings in AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after buying an additional 1,044 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $23.56 on Monday. The business has a fifty day simple moving average of $24.62 and a 200 day simple moving average of $26.42. The company has a market capitalization of $166.99 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.39. AT&T Inc. has a 1 year low of $22.54 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s payout ratio is presently 36.04%.

Analyst Ratings Changes

A number of analysts have commented on T shares. Royal Bank Of Canada cut their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. TD Cowen reiterated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Morgan Stanley lowered their price target on AT&T from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Weiss Ratings restated a “buy (b-)” rating on shares of AT&T in a research note on Monday, December 29th. Finally, The Goldman Sachs Group cut their price objective on AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.75.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.