AT&T Inc. (NYSE:T) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA lowered its holdings in AT&T Inc. (NYSE:T) by 10.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 17,792 shares of the technology company’s stock after selling 2,074 shares during the quarter. Jacobs & Co. CA’s holdings in AT&T were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in T. Octavia Wealth Advisors LLC increased its stake in AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after buying an additional 519 shares during the period. Carolinas Wealth Consulting LLC increased its stake in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after acquiring an additional 521 shares during the last quarter. WealthCare Investment Partners LLC raised its holdings in shares of AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares in the last quarter. Integral Investment Advisors Inc. raised its holdings in shares of AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after acquiring an additional 538 shares in the last quarter. Finally, Financial Counselors Inc. boosted its position in AT&T by 0.6% during the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $22.20 on Thursday. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The company has a 50 day moving average of $20.35 and a 200-day moving average of $18.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $159.14 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 3.75 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Ratings Changes

T has been the subject of a number of recent research reports. Oppenheimer raised their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays raised their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $22.38.

AT&T 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.