Jackson Hole Capital Partners LLC Sells 5,091 Shares of AT&T Inc. (NYSE:T)

Jackson Hole Capital Partners LLC decreased its position in shares of AT&T Inc. (NYSE:T) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,176 shares of the technology company’s stock after selling 5,091 shares during the period. Jackson Hole Capital Partners LLC’s holdings in AT&T were worth $3,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in AT&T during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in AT&T during the fourth quarter worth about $27,000. Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the period. Finally, Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, April 24th. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. UBS Group reissued a “buy” rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.17.

AT&T Trading Up 1.0%

Shares of NYSE:T traded up $0.28 during midday trading on Thursday, reaching $28.03. The company’s stock had a trading volume of 13,451,849 shares, compared to its average volume of 37,943,020. AT&T Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $29.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.65 and a current ratio of 0.70. The firm has a 50 day moving average price of $27.79 and a two-hundred day moving average price of $26.54. The firm has a market capitalization of $201.66 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 3.42 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T’s dividend payout ratio is presently 68.10%.

About AT&T

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.