Jones Financial Companies Lllp Has $2.42 Million Stock Holdings in AT&T Inc. (NYSE:T)
Jones Financial Companies Lllp raised its stake in AT&T Inc. (NYSE:T) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,275 shares of the technology company’s stock after acquiring an additional 1,688 shares during the period. Jones Financial Companies Lllp’s holdings in AT&T were worth $2,422,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grimes & Company Inc. increased its holdings in AT&T by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock worth $1,132,000 after purchasing an additional 294 shares in the last quarter. Interactive Financial Advisors increased its holdings in AT&T by 16.7% in the 2nd quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock worth $70,000 after purchasing an additional 300 shares in the last quarter. Berkshire Money Management Inc. increased its holdings in AT&T by 3.2% in the 2nd quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock worth $331,000 after purchasing an additional 305 shares in the last quarter. Lenox Wealth Management Inc. increased its holdings in AT&T by 6.0% in the 2nd quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock worth $181,000 after purchasing an additional 308 shares in the last quarter. Finally, Centaurus Financial Inc. increased its holdings in AT&T by 24.4% in the 1st quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after purchasing an additional 333 shares in the last quarter. 52.63% of the stock is owned by hedge funds and other institutional investors.
T has been the subject of a number of recent research reports. Morgan Stanley reaffirmed a “buy” rating and issued a $37.00 target price on shares of AT&T in a report on Thursday, August 1st. Desjardins reaffirmed an “average” rating and issued a $55.50 target price on shares of AT&T in a report on Tuesday, August 6th. Bank of America reaffirmed a “buy” rating and issued a $37.00 target price on shares of AT&T in a report on Monday, June 24th. Raymond James upped their target price on AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $36.72.
AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The company had revenue of $44.96 billion for the quarter, compared to analyst estimates of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. Equities research analysts anticipate that AT&T Inc. will post 3.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.04 annualized dividend and a yield of 5.82%. AT&T’s payout ratio is currently 57.95%.
In other AT&T news, CEO John T. Stankey sold 4,024 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the transaction, the chief executive officer now owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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