Jmac Enterprises LLC Purchases Shares of 14,751 AT&T Inc. $T

Key Points

• Jmac Enterprises LLC has acquired 14,751 shares of AT&T, valued at approximately $427,000, indicating growing institutional interest in the company.
• Several analysts have recently upgraded their price targets for AT&T, with Sanford C. Bernstein and others setting new objectives, suggesting positive sentiment towards the stock.
• AT&T announced a quarterly dividend of $0.2775 per share, which translates to an annualized yield of 4.1%, reinforcing its commitment to returning value to shareholders.

Jmac Enterprises LLC acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,751 shares of the technology company's stock, valued at approximately $427,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of AT&T by 24.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company's stock worth $397,000 after acquiring an additional 2,725 shares in the last quarter. Apella Capital LLC raised its holdings in shares of AT&T by 18.0% during the first quarter. Apella Capital LLC now owns 34,911 shares of the technology company's stock worth $924,000 after acquiring an additional 5,321 shares in the last quarter. Beacon Financial Group raised its holdings in shares of AT&T by 2.9% during the first quarter. Beacon Financial Group now owns 14,976 shares of the technology company's stock worth $424,000 after acquiring an additional 417 shares in the last quarter. Finally, HF Advisory Group LLC raised its holdings in shares of AT&T by 2.6% during the first quarter. HF Advisory Group LLC now owns 91,890 shares of the technology company's stock worth $2,599,000 after acquiring an additional 2,306 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Wells Fargo & Company increased their price objective on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Scotiabank increased their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Raymond James Financial reiterated a "strong-buy" rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, UBS Group set a $33.00 price objective on AT&T in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

AT&T Price Performance

T opened at $26.99 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a fifty day simple moving average of $28.62 and a 200 day simple moving average of $27.91. The stock has a market cap of $192.95 billion, a P/E ratio of 15.33, a P/E/G ratio of 3.53 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio is 63.07%.

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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