Jones Financial Companies Lllp Sells 659,447 Shares of AT&T Inc. $T

Jones Financial Companies Lllp decreased its holdings in AT&T Inc. (NYSE:T - Free Report) by 94.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 38,408 shares of the technology company's stock after selling 659,447 shares during the period. Jones Financial Companies Lllp's holdings in AT&T were worth $1,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teewinot Capital Advisers L.L.C. bought a new stake in AT&T during the 1st quarter worth $2,116,000. Teza Capital Management LLC bought a new stake in AT&T during the 1st quarter worth $272,000. Third Point LLC bought a new stake in AT&T during the 1st quarter worth $105,638,000. Tiptree Advisors LLC bought a new stake in AT&T during the 1st quarter worth $4,242,000. Finally, UniSuper Management Pty Ltd grew its position in AT&T by 38.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,725,007 shares of the technology company's stock worth $77,063,000 after acquiring an additional 750,759 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

Shares of AT&T stock opened at $29.59 on Friday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The firm has a market capitalization of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44. The business has a 50-day simple moving average of $28.31 and a 200 day simple moving average of $27.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's payout ratio is currently 63.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on T. Wells Fargo & Company boosted their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. UBS Group set a $32.00 price objective on AT&T in a research note on Thursday, September 4th. Morgan Stanley boosted their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group began coverage on AT&T in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.60.

AT&T Company Profile

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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