Glass Jacobson Investment Advisors llc Cuts Stock Holdings in AT&T Inc. $T

Glass Jacobson Investment Advisors llc trimmed its position in shares of AT&T Inc. (NYSE:T) by 94.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,038 shares of the technology company’s stock after selling 17,635 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in AT&T were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new position in shares of AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in AT&T in the 2nd quarter valued at $26,000. Kennebec Savings Bank grew its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several research reports. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. HSBC lowered 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 note on Thursday, July 24th. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group reissued a “buy” rating on shares of AT&T in a report on Thursday. Finally, Wells Fargo & Company lowered their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Price Performance

AT&T stock opened at $25.17 on Monday. The stock has a market cap of $179.95 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 2.03 and a beta of 0.42. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The business has a 50-day simple moving average of $27.97 and a 200 day simple moving average of $27.76. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

AT&T 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.