JB Capital LLC Has $515,000 Holdings in AT&T Inc. (NYSE:T)

JB Capital LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,945 shares of the technology company’s stock after selling 906 shares during the quarter. JB Capital LLC’s holdings in AT&T were worth $515,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of AT&T during the 4th quarter worth about $11,554,000. Provence Wealth Management Group raised its stake in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Brighton Jones LLC raised its stake in shares of AT&T by 12.6% during the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after purchasing an additional 5,161 shares in the last quarter. Finally, Summa Corp. purchased a new stake in shares of AT&T during the 4th quarter worth about $395,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on T. Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Barclays raised their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. UBS Group reissued a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Royal Bank of Canada raised their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group assumed coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Nine 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, the company presently has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Stock Performance

T traded up $0.22 during midday trading on Friday, reaching $19.73. The company’s stock had a trading volume of 21,519,295 shares, compared to its average volume of 35,880,934. AT&T Inc. has a twelve month low of $14.04 and a twelve month high of $19.99. The stock has a market cap of $141.47 billion, a P/E ratio of 10.60, a PEG ratio of 3.26 and a beta of 0.58. The company has a fifty day simple moving average of $18.96 and a 200 day simple moving average of $17.79. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. Research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company 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.