Jones Collombin Investment Counsel Inc Holds Position in AT&T Inc. (T)
Jones Collombin Investment Counsel Inc continued to hold its position in AT&T Inc. (NYSE:T) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,854 shares of the company’s stock at the end of the second quarter. Jones Collombin Investment Counsel Inc’s holdings in AT&T were worth $210,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of T. Cornerstone Investment Partners LLC raised its stake in AT&T by 0.6% in the second quarter. Cornerstone Investment Partners LLC now owns 9,554 shares of the company’s stock worth $413,000 after buying an additional 54 shares in the last quarter. Cohen Lawrence B raised its stake in AT&T by 0.4% in the second quarter. Cohen Lawrence B now owns 13,585 shares of the company’s stock worth $587,000 after buying an additional 60 shares in the last quarter. Nadler Financial Group Inc. raised its stake in AT&T by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 14,085 shares of the company’s stock worth $609,000 after buying an additional 62 shares in the last quarter. Smith & Howard Wealth Management LLC raised its stake in AT&T by 0.8% in the first quarter. Smith & Howard Wealth Management LLC now owns 8,220 shares of the company’s stock worth $322,000 after buying an additional 66 shares in the last quarter. Finally, Badgley Phelps & Bell Inc. raised its stake in AT&T by 0.4% in the first quarter. Badgley Phelps & Bell Inc. now owns 17,269 shares of the company’s stock worth $676,000 after buying an additional 70 shares in the last quarter. 53.64% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Inc. (NYSE:T) traded down 0.61% during trading on Friday, hitting $38.87. The stock had a trading volume of 19,171,955 shares. AT&T Inc. has a 1-year low of $32.22 and a 1-year high of $43.89. The stock has a market cap of $239.13 billion, a PE ratio of 16.76 and a beta of 0.30. The firm’s 50-day moving average price is $40.58 and its 200-day moving average price is $40.51.
AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.72. The business had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. AT&T had a return on equity of 13.93% and a net margin of 8.76%. On average, equities research analysts predict that AT&T Inc. will post $2.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s payout ratio is 83.12%.
Several equities research analysts have recently weighed in on T shares. Vetr lowered AT&T from a “hold” rating to a “sell” rating and set a $38.71 target price on the stock. in a research report on Tuesday, June 21st. Buckingham Research lowered AT&T from a “buy” rating to a “neutral” rating and raised their target price for the stock from $30.97 to $39.56 in a research report on Friday, June 24th. They noted that the move was a valuation call. Barclays PLC started coverage on AT&T in a research report on Monday, June 27th. They set a “buy” rating on the stock. Robert W. Baird reissued a “neutral” rating and set a $41.00 target price on shares of AT&T in a research report on Tuesday, June 28th. Finally, Deutsche Bank AG raised their target price on AT&T from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. AT&T presently has an average rating of “Hold” and a consensus price target of $41.57.
In related news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the completion of the transaction, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.
AT&T Company Profile
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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