Burney Co. Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Burney Co. cut its stake in AT&T Inc. (NYSE:T) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,484 shares of the technology company’s stock after selling 1,525 shares during the period. Burney Co.’s holdings in AT&T were worth $695,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of T. Pineridge Advisors LLC purchased a new position in shares of AT&T during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in AT&T during the fourth quarter worth $25,000. First Pacific Financial raised its holdings in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares during the last quarter. HighMark Wealth Management LLC lifted its position in shares of AT&T by 58.2% in the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock valued at $41,000 after acquiring an additional 811 shares in the last quarter. Finally, ESL Trust Services LLC acquired a new stake in shares of AT&T during the first quarter valued at $39,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on T. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Stock Performance

Shares of NYSE T traded down $0.10 during mid-day trading on Friday, hitting $19.37. The company had a trading volume of 45,240,116 shares, compared to its average volume of 37,305,292. AT&T Inc. has a 12 month low of $13.89 and a 12 month high of $19.99. The stock has a market cap of $138.89 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 3.28 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm’s 50 day simple moving average is $18.49 and its two-hundred day simple moving average is $17.55.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, equities research analysts forecast 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend 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.