AT&T Inc. (T) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 8.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,389,675 shares of the technology company’s stock after acquiring an additional 176,588 shares during the quarter. AT&T comprises 0.7% of Janney Montgomery Scott LLC’s holdings, making the stock its 18th biggest position. Janney Montgomery Scott LLC’s holdings in AT&T were worth $76,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Earnest Partners LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $113,000. CKW Financial Group increased its holdings in shares of AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after purchasing an additional 2,159 shares during the period. Braun Bostich & Associates Inc. acquired a new position in shares of AT&T in the first quarter valued at approximately $137,000. Elmwood Wealth Management Inc. acquired a new position in shares of AT&T in the first quarter valued at approximately $178,000. Finally, Cerebellum GP LLC acquired a new position in shares of AT&T in the second quarter valued at approximately $178,000. 64.56% of the stock is currently owned by institutional investors.

T opened at $33.78 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.92. The firm has a market cap of $207.38 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 2.69 and a beta of 0.40. AT&T Inc. has a one year low of $30.13 and a one year high of $39.80.

AT&T (NYSE:T) last posted its earnings results on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The company had revenue of $38.99 billion for the quarter, compared to the consensus estimate of $38.45 billion. AT&T had a return on equity of 13.64% and a net margin of 20.12%. AT&T’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. equities analysts anticipate that AT&T Inc. will post 3.52 earnings per share for the current year.

In other news, Director Matthew K. Rose bought 65,500 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were bought at an average cost of $30.51 per share, for a total transaction of $1,998,405.00. Following the completion of the transaction, the director now owns 81,319 shares in the company, valued at $2,481,042.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were purchased at an average price of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the transaction, the director now owns 31,405 shares of the company’s stock, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on T shares. Bank of America reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. UBS Group raised AT&T from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 13th. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Wednesday, June 13th. Morgan Stanley reissued an “overweight” rating and issued a $37.00 target price on shares of AT&T in a report on Wednesday, June 27th. Finally, Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T has an average rating of “Hold” and an average target price of $38.06.

About AT&T

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

Further Reading: Understanding Analyst Recommendations

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

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