Cross Staff Investments Inc Reduces Stock Position in AT&T Inc. (NYSE:T)

Cross Staff Investments Inc reduced its holdings in shares of AT&T Inc. (NYSE:T) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,533 shares of the technology company’s stock after selling 680 shares during the period. Cross Staff Investments Inc’s holdings in AT&T were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Sora Investors LLC purchased a new position in shares of AT&T during the 3rd quarter worth approximately $11,265,000. Robeco Institutional Asset Management B.V. grew its position in shares of AT&T by 2.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company’s stock valued at $259,219,000 after buying an additional 383,015 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of AT&T by 3.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company’s stock worth $585,000 after acquiring an additional 1,178 shares during the period. Retireful LLC acquired a new stake in AT&T during the fourth quarter valued at approximately $1,163,000. Finally, Terril Brothers Inc. increased its stake in AT&T by 51.6% in the 3rd quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company’s stock valued at $8,937,000 after buying an additional 202,637 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on T. Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays lifted their price objective on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. StockNews.com upgraded AT&T from a “hold” rating to a “buy” rating in a report on Thursday. Tigress Financial boosted their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Citigroup upped their price objective on AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $20.81.

AT&T Stock Up 1.4 %

T stock traded up $0.23 during trading hours on Friday, reaching $16.81. 22,905,701 shares of the stock were exchanged, compared to its average volume of 39,222,012. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $18.16. The firm’s 50-day moving average is $16.97 and its 200-day moving average is $16.54. The company has a market cap of $120.24 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 2.54 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its quarterly earnings results 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. The firm had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.60%. AT&T’s payout ratio is 59.68%.

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.