Burke & Herbert Bank & Trust Co. Sells 1,376 Shares of AT&T Inc. (NYSE:T)

Burke & Herbert Bank & Trust Co. lessened its holdings in shares of AT&T Inc. (NYSE:T) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,054 shares of the technology company’s stock after selling 1,376 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in AT&T were worth $479,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. First Bank & Trust increased its holdings in AT&T by 7.0% during the 2nd quarter. First Bank & Trust now owns 164,097 shares of the technology company’s stock worth $2,617,000 after purchasing an additional 10,763 shares in the last quarter. MJP Associates Inc. ADV lifted its position in shares of AT&T by 11.5% in the second quarter. MJP Associates Inc. ADV now owns 16,154 shares of the technology company’s stock worth $258,000 after purchasing an additional 1,668 shares in the last quarter. Affiance Financial LLC lifted its position in shares of AT&T by 8.5% in the second quarter. Affiance Financial LLC now owns 17,154 shares of the technology company’s stock worth $274,000 after purchasing an additional 1,348 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its position in shares of AT&T by 9.8% in the second quarter. Capital Advisors Wealth Management LLC now owns 12,156 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Advisory Resource Group lifted its position in shares of AT&T by 2.5% in the second quarter. Advisory Resource Group now owns 43,523 shares of the technology company’s stock worth $694,000 after purchasing an additional 1,043 shares in the last quarter. Institutional investors own 53.65% of the company’s stock.

AT&T Price Performance

NYSE T traded down $0.08 on Monday, hitting $15.15. 13,003,657 shares of the company’s stock were exchanged, compared to its average volume of 38,933,184. The stock has a 50-day moving average of $14.46 and a 200-day moving average of $16.33. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $20.50. The stock has a market cap of $108.31 billion, a price-to-earnings ratio of -12.48, a P/E/G ratio of 1.85 and a beta of 0.64.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. Analysts expect that AT&T Inc. will post 2.43 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a $0.2775 dividend. The ex-dividend date was Friday, July 7th. This represents a $1.11 annualized dividend and a yield of 7.33%. AT&T’s dividend payout ratio is presently -90.98%.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. Moffett Nathanson upgraded AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price target for the company in a research note on Tuesday, June 6th. Argus cut shares of AT&T from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. JPMorgan Chase & Co. cut shares of AT&T from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $17.00 in a report on Friday, July 14th. HSBC dropped their target price on shares of AT&T from $21.00 to $19.00 in a report on Monday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of AT&T from $23.00 to $22.00 in a research report on Friday, July 14th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has an average rating of “Hold” and a consensus price target of $20.00.

AT&T Profile

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.