Berkshire Money Management Inc. Sells 3,521 Shares of AT&T Inc. $T

Berkshire Money Management Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 29.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,249 shares of the technology company’s stock after selling 3,521 shares during the period. Berkshire Money Management Inc.’s holdings in AT&T were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the first quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T in the second quarter valued at $26,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. Kennebec Savings Bank lifted its stake in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Finally, Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.2%

Shares of AT&T stock opened at $27.06 on Monday. The company’s fifty day moving average is $28.60 and its two-hundred day moving average is $27.93. The company has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared 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 is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analyst Upgrades and Downgrades

T has been the subject of several recent analyst reports. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Barclays reaffirmed an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a research note on Wednesday. Finally, HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

About AT&T

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.