Jacobs & Co. CA lowered its holdings in AT&T Inc. (NYSE:T) by 0.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 218,321 shares of the technology company’s stock after selling 758 shares during the period. AT&T accounts for approximately 1.3% of Jacobs & Co. CA’s investment portfolio, making the stock its 29th biggest holding. Jacobs & Co. CA’s holdings in AT&T were worth $8,261,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC grew its holdings in shares of AT&T by 1.3% in the second quarter. Ancora Advisors LLC now owns 351,407 shares of the technology company’s stock worth $11,776,000 after acquiring an additional 4,370 shares during the period. Kavar Capital Partners LLC lifted its holdings in AT&T by 3.0% during the second quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock worth $3,318,000 after buying an additional 2,914 shares during the period. Investment Partners LTD. lifted its holdings in shares of AT&T by 36.5% during the 2nd quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 8,892 shares during the last quarter. JGP Wealth Management LLC increased its position in shares of AT&T by 2.7% in the 2nd quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after acquiring an additional 3,373 shares during the period. Finally, Marco Investment Management LLC increased its position in shares of AT&T by 16.2% in the 2nd quarter. Marco Investment Management LLC now owns 62,639 shares of the technology company’s stock valued at $2,099,000 after acquiring an additional 8,734 shares during the period. Institutional investors and hedge funds own 52.94% of the company’s stock.
T has been the topic of a number of research reports. Raymond James reaffirmed a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of AT&T in a research note on Tuesday, October 29th. Morgan Stanley set a $37.00 price target on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Oppenheimer set a $41.00 price target on shares of AT&T and gave the stock a “buy” rating in a report on Tuesday, September 10th. Citigroup raised their price target on shares of AT&T from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Desjardins restated an “average” rating and set a $55.50 price target on shares of AT&T in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.74.
AT&T (NYSE:T) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $44.59 billion during the quarter, compared to the consensus estimate of $45.45 billion. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 3.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.51 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.18%. AT&T’s dividend payout ratio (DPR) is 57.95%.
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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