Janney Montgomery Scott LLC Sells 56,343 Shares of AT&T Inc. (NYSE:T)

Janney Montgomery Scott LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,232,625 shares of the technology company’s stock after selling 56,343 shares during the quarter. Janney Montgomery Scott LLC’s holdings in AT&T were worth $49,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T during the second quarter worth approximately $23,888,000. Talbot Financial LLC bought a new position in shares of AT&T during the third quarter valued at about $7,438,000. Mackenzie Financial Corp increased its holdings in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares during the period. DRW Securities LLC increased its holdings in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after buying an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after buying an additional 43,062 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $22.12 on Monday. The firm has a market cap of $158.72 billion, a PE ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $21.47 and a two-hundred day simple moving average of $19.36. AT&T Inc. has a 1-year low of $15.46 and a 1-year high of $22.73.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

Several research firms have recently commented on T. Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Barclays raised their target price on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.