AT&T Inc. (NYSE:T) Shares Sold by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY reduced its position in shares of AT&T Inc. (NYSE:T) by 6.5% during the first quarter, Holdings Channel.com reports. The fund owned 18,215 shares of the technology company’s stock after selling 1,275 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in AT&T were worth $515,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of AT&T by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock valued at $14,637,914,000 after purchasing an additional 6,220,442 shares during the period. Geode Capital Management LLC boosted its position in shares of AT&T by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock valued at $3,719,723,000 after purchasing an additional 2,640,644 shares during the period. GQG Partners LLC boosted its position in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock valued at $2,203,667,000 after purchasing an additional 26,280,866 shares during the period. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock valued at $1,948,943,000 after purchasing an additional 5,649,277 shares during the period. Finally, Norges Bank acquired a new position in shares of AT&T in the 4th quarter valued at $1,858,418,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 1.3%

Shares of AT&T stock opened at $27.73 on Friday. The firm has a market cap of $199.53 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. AT&T Inc. has a 52-week low of $17.42 and a 52-week high of $29.03. The stock has a 50-day simple moving average of $27.36 and a 200-day simple moving average of $25.27.

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

AT&T Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on T shares. Oppenheimer increased their price target on AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Barclays raised their price objective on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T 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.