Berger Financial Group Inc lessened its holdings in AT&T Inc. (NYSE:T – Free Report) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,731 shares of the technology company’s stock after selling 1,206 shares during the quarter. Berger Financial Group Inc’s holdings in AT&T were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of AT&T by 102,614.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 823,706,558 shares of the technology company’s stock worth $13,138,120,000 after acquiring an additional 822,904,620 shares during the period. BlackRock Inc. grew its stake in shares of AT&T by 0.4% during the 1st quarter. BlackRock Inc. now owns 523,127,988 shares of the technology company’s stock worth $10,070,214,000 after acquiring an additional 1,985,371 shares during the period. State Street Corp grew its stake in shares of AT&T by 0.5% during the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock worth $5,530,602,000 after acquiring an additional 1,567,008 shares during the period. Newport Trust Co grew its stake in shares of AT&T by 0.7% during the 1st quarter. Newport Trust Co now owns 196,653,545 shares of the technology company’s stock worth $3,785,581,000 after acquiring an additional 1,337,195 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of AT&T by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 134,387,114 shares of the technology company’s stock worth $2,581,839,000 after acquiring an additional 530,478 shares during the period. Institutional investors own 53.65% of the company’s stock.
AT&T Price Performance
Shares of AT&T stock opened at $15.90 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.69 and a quick ratio of 0.64. The business’s 50 day simple moving average is $15.07 and its two-hundred day simple moving average is $15.25. The stock has a market capitalization of $113.69 billion, a P/E ratio of -10.23, a price-to-earnings-growth ratio of 1.90 and a beta of 0.60. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50.
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The technology company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $30.35 billion for the quarter, compared to analyst estimates of $30.25 billion. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. Analysts forecast that AT&T Inc. will post 2.44 EPS for the current year.
AT&T Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a $0.2775 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.98%. AT&T’s dividend payout ratio is currently -72.08%.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Citigroup raised their target price on AT&T from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. StockNews.com assumed coverage on AT&T in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada raised their target price on AT&T from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Scotiabank upgraded AT&T from a “sector perform” rating to a “sector outperform” rating and set a $18.50 target price for the company in a research note on Friday, October 20th. Finally, Morgan Stanley lowered their price target on AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.90.
Check Out Our Latest Analysis on AT&T
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T – Free Report).
Receive News & Ratings for AT&T Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for AT&T and related companies with MarketBeat.com’s FREE daily email newsletter.