Jacobi Capital Management LLC Cuts Position in AT&T Inc. $T

Jacobi Capital Management LLC decreased its holdings in shares of AT&T Inc. (NYSE:T) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,590 shares of the technology company’s stock after selling 4,031 shares during the period. Jacobi Capital Management LLC’s holdings in AT&T were worth $2,788,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after buying an additional 8,185,006 shares in the last quarter. GQG Partners LLC grew its stake in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after acquiring an additional 1,783,363 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock valued at $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on T shares. Scotiabank increased their price objective on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. UBS Group set a $32.00 price objective on AT&T in a research report on Thursday, September 4th. Finally, Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.60.

AT&T Stock Down 0.7%

Shares of NYSE:T opened at $29.21 on Thursday. The company has a market cap of $208.88 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 3.66 and a beta of 0.44. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $28.26 and a 200 day moving average price of $27.69.

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

AT&T Dividend Announcement

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

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.