Jmac Enterprises LLC Sells 8,554 Shares of AT&T Inc. (NYSE:T)

Jmac Enterprises LLC trimmed its stake in AT&T Inc. (NYSE:T) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,718 shares of the technology company’s stock after selling 8,554 shares during the quarter. Jmac Enterprises LLC’s holdings in AT&T were worth $331,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Soltis Investment Advisors LLC boosted its stake in shares of AT&T by 4.7% during the 4th quarter. Soltis Investment Advisors LLC now owns 66,688 shares of the technology company’s stock worth $1,119,000 after acquiring an additional 3,019 shares during the period. Harbour Trust & Investment Management Co bought a new position in shares of AT&T during the 4th quarter worth approximately $330,000. Optas LLC boosted its stake in shares of AT&T by 10.2% during the 4th quarter. Optas LLC now owns 18,699 shares of the technology company’s stock worth $314,000 after acquiring an additional 1,728 shares during the period. Bridgeworth LLC boosted its stake in shares of AT&T by 7.6% during the 4th quarter. Bridgeworth LLC now owns 69,395 shares of the technology company’s stock worth $1,164,000 after acquiring an additional 4,927 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of AT&T by 457.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 595,372 shares of the technology company’s stock worth $9,990,000 after acquiring an additional 488,557 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on T shares. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Tigress Financial lifted their price target on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $21.61.

AT&T Trading Down 1.0 %

Shares of T stock opened at $16.73 on Thursday. The firm has a market capitalization of $119.67 billion, a P/E ratio of 8.54, a P/E/G ratio of 2.61 and a beta of 0.57. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.99. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $17.17 and its 200 day simple moving average is $16.44.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter last year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

AT&T 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.