Jackson Grant Investment Advisers Inc. cut its stake in AT&T Inc. (NYSE:T) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,605 shares of the technology company’s stock after selling 8,231 shares during the quarter. AT&T comprises approximately 0.9% of Jackson Grant Investment Advisers Inc.’s holdings, making the stock its 22nd largest holding. Jackson Grant Investment Advisers Inc.’s holdings in AT&T were worth $1,302,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of T. NuWave Investment Management LLC bought a new stake in shares of AT&T during the fourth quarter worth $40,000. Mackey Komara & Dankovich LLC bought a new stake in shares of AT&T during the fourth quarter worth $76,000. New Capital Management LP lifted its position in shares of AT&T by 234.6% during the fourth quarter. New Capital Management LP now owns 3,349 shares of the technology company’s stock worth $96,000 after purchasing an additional 2,348 shares during the last quarter. Chessman Wealth Strategies RIA bought a new stake in shares of AT&T during the third quarter worth $114,000. Finally, Stelac Advisory Services LLC bought a new stake in shares of AT&T during the third quarter worth $121,000. Institutional investors own 64.59% of the company’s stock.
In other AT&T news, CEO John T. Stankey sold 3,748 shares of AT&T stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $29.84, for a total value of $111,840.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is owned by insiders.
AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. AT&T had a return on equity of 13.47% and a net margin of 11.34%. The firm had revenue of $47.99 billion for the quarter, compared to analyst estimates of $48.50 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts predict that AT&T Inc. will post 3.6 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.04 annualized dividend and a yield of 6.37%. AT&T’s dividend payout ratio (DPR) is presently 57.95%.
T has been the subject of several research analyst reports. Barclays set a $32.00 target price on AT&T and gave the stock a “hold” rating in a research report on Friday, January 18th. Cowen restated a “buy” rating and set a $35.00 price target on shares of AT&T in a research note on Thursday, January 31st. ValuEngine lowered AT&T from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Friday, March 15th. They noted that the move was a valuation call. Finally, Desjardins restated an “average” rating and set a $56.50 price target on shares of AT&T in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $36.26.
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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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