Jackson Grant Investment Advisers Inc. Sells 792 Shares of AT&T Inc. (NYSE:T)

Jackson Grant Investment Advisers Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 20,934 shares of the technology company’s stock after selling 792 shares during the quarter. Jackson Grant Investment Advisers Inc.’s holdings in AT&T were worth $351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of AT&T by 0.5% in the first quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after acquiring an additional 1,567,008 shares during the period. Newport Trust Company LLC lifted its stake in shares of AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock worth $3,003,971,000 after acquiring an additional 673,043 shares during the period. Morgan Stanley lifted its stake in shares of AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after acquiring an additional 29,769,976 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of AT&T by 85,003.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock worth $1,414,568,000 after acquiring an additional 76,746,649 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of AT&T by 2.5% in the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock worth $1,128,878,000 after acquiring an additional 1,828,237 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Friday, January 19th. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft increased 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. Royal Bank of Canada restated a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Finally, StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.68.

AT&T Stock Up 1.1 %

NYSE T traded up $0.18 on Friday, reaching $16.51. The company had a trading volume of 45,820,353 shares, compared to its average volume of 33,811,916. The stock has a market capitalization of $118.09 billion, a P/E ratio of 8.42, a P/E/G ratio of 2.49 and a beta of 0.57. The company’s fifty day moving average is $17.00 and its 200 day moving average is $16.50. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.72. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

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). The company had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is currently 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.