Federated Hermes Inc. Sells 2,548,568 Shares of AT&T Inc. (NYSE:T)

Federated Hermes Inc. decreased its position in shares of AT&T Inc. (NYSE:T) by 17.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,736,735 shares of the technology company’s stock after selling 2,548,568 shares during the period. Federated Hermes Inc.’s holdings in AT&T were worth $267,245,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the third quarter worth about $25,000. Marshall Investment Management LLC bought a new position in shares of AT&T during the 4th quarter valued at about $28,000. YANKCOM Partnership purchased a new position in shares of AT&T during the fourth quarter valued at about $30,000. Tradewinds Capital Management LLC increased its holdings in shares of AT&T by 48.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of AT&T in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of research reports. Argus raised AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 16th. Oppenheimer boosted their price target on shares of AT&T from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Royal Bank of Canada increased their price objective on shares of AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 19th. Scotiabank lifted their price objective on shares of AT&T from $26.00 to $28.50 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.21.

AT&T Trading Down 6.8 %

Shares of T opened at $26.65 on Friday. The firm has a market capitalization of $191.27 billion, a price-to-earnings ratio of 17.88, a PEG 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 1-year low of $15.94 and a 1-year high of $29.03. The company has a 50-day moving average of $26.26 and a 200 day moving average of $23.75.

AT&T (NYSE:T) last posted its quarterly earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Thursday, April 10th. AT&T’s payout ratio is 74.50%.

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.