Burke & Herbert Bank & Trust Co. Lowers Stake in AT&T Inc. (NYSE:T)

Burke & Herbert Bank & Trust Co. cut its position in AT&T Inc. (NYSE:T) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,770 shares of the technology company’s stock after selling 1,566 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in AT&T were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares during the period. FMR LLC raised its position in shares of AT&T by 1.9% during the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares during the last quarter. Swiss National Bank raised its position in shares of AT&T by 0.5% during the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after buying an additional 104,700 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of AT&T by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock worth $399,467,000 after buying an additional 325,073 shares in the last quarter. Finally, National Pension Service increased its holdings in AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock valued at $346,934,000 after acquiring an additional 2,152,016 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 1.0 %

Shares of NYSE T opened at $25.88 on Monday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $25.93. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $185.66 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.79 and a beta of 0.59. The business’s 50 day moving average price is $23.23 and its 200-day moving average price is $22.08.

AT&T (NYSE:T) last announced its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a return on equity of 13.97% and a net margin of 8.95%. On average, sell-side analysts expect that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.29%. AT&T’s payout ratio is 74.50%.

Wall Street Analyst Weigh In

Several research analysts have commented on T shares. Wells Fargo & Company dropped their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $28.00 in a research note on Monday, December 16th. BNP Paribas raised AT&T from a “neutral” rating to an “outperform” rating and set a $28.50 price objective on the stock in a research note on Thursday. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Scotiabank raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

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.