Janney Montgomery Scott LLC Has $61.75 Million Stock Position in AT&T Inc. (NYSE:T)

Janney Montgomery Scott LLC lowered its position in AT&T Inc. (NYSE:T - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,183,390 shares of the technology company's stock after selling 71,577 shares during the quarter. Janney Montgomery Scott LLC's holdings in AT&T were worth $61,746,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. Next Level Private LLC boosted its stake in shares of AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its holdings in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. boosted its position in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the period. Firethorn Wealth Partners LLC grew its holdings in AT&T by 4.1% during the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company's stock valued at $286,000 after purchasing an additional 399 shares during the last quarter. Finally, Charter Oak Capital Management LLC raised its position in shares of AT&T by 2.7% in the first quarter. Charter Oak Capital Management LLC now owns 15,246 shares of the technology company's stock valued at $431,000 after purchasing an additional 408 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $27.95 on Tuesday. The business has a 50 day simple moving average of $27.44 and a 200 day simple moving average of $25.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market capitalization of $201.08 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 3.00 and a beta of 0.41. AT&T Inc. has a one year low of $17.49 and a one year high of $29.03.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The company had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.11 annualized dividend and a yield of 3.97%. AT&T's dividend payout ratio is 68.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on T shares. Royal Bank of Canada raised their target price on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Monday, April 7th. Morgan Stanley reissued an "overweight" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Evercore ISI raised their target price on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.71.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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