Janney Montgomery Scott LLC Sells 56,343 Shares of AT&T Inc. (NYSE:T)

Janney Montgomery Scott LLC lowered its position in AT&T Inc. (NYSE:T) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,232,625 shares of the technology company’s stock after selling 56,343 shares during the period. Janney Montgomery Scott LLC’s holdings in AT&T were worth $49,118,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. Strategic Financial Concepts LLC boosted its holdings in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its holdings in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the 2nd quarter valued at about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on T shares. Citigroup upped their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays upped their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Performance

Shares of NYSE:T opened at $22.12 on Monday. The firm has a market cap of $158.72 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. The firm’s 50 day simple moving average is $21.47 and its 200-day simple moving average is $19.36. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.02%. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.