Jacobs & Co. CA Decreases Stock Position in AT&T Inc. (NYSE:T)

Jacobs & Co. CA decreased its position in shares of AT&T Inc. (NYSE:T) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,249 shares of the technology company’s stock after selling 30,165 shares during the period. Jacobs & Co. CA’s holdings in AT&T were worth $5,044,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board acquired a new stake in shares of AT&T during the first quarter worth $868,000. Baker Boyer National Bank acquired a new stake in AT&T during the second quarter worth about $832,000. Advance Capital Management Inc. boosted its stake in AT&T by 6.3% in the second quarter. Advance Capital Management Inc. now owns 114,858 shares of the technology company’s stock valued at $1,832,000 after acquiring an additional 6,819 shares during the period. Point72 Europe London LLP bought a new position in shares of AT&T during the fourth quarter valued at approximately $28,443,000. Finally, Great Lakes Advisors LLC raised its position in shares of AT&T by 195.8% during the 1st quarter. Great Lakes Advisors LLC now owns 416,107 shares of the technology company’s stock worth $8,010,000 after purchasing an additional 275,431 shares during the period. Institutional investors and hedge funds own 53.65% of the company’s stock.

AT&T Trading Down 0.1 %

AT&T stock opened at $15.21 on Monday. The company has a market capitalization of $108.74 billion, a price-to-earnings ratio of -12.48, a PEG ratio of 1.85 and a beta of 0.64. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. The company’s fifty day moving average price is $14.46 and its two-hundred day moving average price is $16.33. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The firm had revenue of $29.92 billion during the quarter, compared to the consensus estimate of $30.07 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post 2.43 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, July 7th. This represents a $1.11 dividend on an annualized basis and a yield of 7.30%. AT&T’s dividend payout ratio is currently -90.98%.

Analysts Set New Price Targets

Several analysts have weighed in on T shares. Wells Fargo & Company cut their target price on AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, July 20th. Moffett Nathanson upgraded AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price for the company in a research report on Tuesday, June 6th. JPMorgan Chase & Co. cut AT&T from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $17.00 in a research report on Friday, July 14th. HSBC cut their price objective on AT&T from $21.00 to $19.00 in a report on Monday, June 5th. Finally, Royal Bank of Canada lowered their target price on AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, August 10th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.00.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.