AT&T Inc. (NYSE:T) Stock Position Raised by Burkett Financial Services LLC

Burkett Financial Services LLC increased its position in AT&T Inc. (NYSE:T) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 72,884 shares of the technology company’s stock after acquiring an additional 822 shares during the period. AT&T accounts for about 0.8% of Burkett Financial Services LLC’s investment portfolio, making the stock its 14th biggest holding. Burkett Financial Services LLC’s holdings in AT&T were worth $2,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Norges Bank purchased a new stake in AT&T in the 4th quarter worth approximately $1,858,418,000. GQG Partners LLC boosted its position in AT&T by 37.3% during the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after buying an additional 12,881,578 shares during the period. Northern Trust Corp grew its position in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock valued at $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in AT&T by 4,986.1% in the 4th quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after buying an additional 9,719,036 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.4%

NYSE:T opened at $27.76 on Friday. The stock has a 50-day simple moving average of $27.33 and a 200 day simple moving average of $25.41. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The company has a market cap of $199.72 billion, a PE ratio of 18.63, a PEG ratio of 3.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a return on equity of 13.97% and a net margin of 8.95%. The firm had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same period last year, the company earned $0.55 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Analysts Set New Price Targets

Several analysts have issued reports on T shares. Barclays raised their price target on shares of AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. TD Securities increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. Scotiabank restated an “outperform” rating on shares of AT&T in a research report on Thursday, April 24th. Finally, Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $28.71.

AT&T Company Profile

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.