Burns J W & Co. Inc. NY reduced its holdings in shares of AT&T Inc. (NYSE:T – Free Report) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,742 shares of the technology company’s stock after selling 715 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in AT&T were worth $379,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of AT&T by 0.4% in the first quarter. BlackRock Inc. now owns 523,127,988 shares of the technology company’s stock valued at $10,070,214,000 after acquiring an additional 1,985,371 shares during the period. State Street Corp grew its position 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 valued at $5,530,602,000 after purchasing an additional 1,567,008 shares in the last quarter. Newport Trust Co increased its holdings in shares of AT&T by 0.7% in the first quarter. Newport Trust Co now owns 196,653,545 shares of the technology company’s stock worth $3,785,581,000 after purchasing an additional 1,337,195 shares during the period. Geode Capital Management LLC raised its position in shares of AT&T by 0.4% in the first quarter. Geode Capital Management LLC now owns 134,387,114 shares of the technology company’s stock worth $2,581,839,000 after buying an additional 530,478 shares in the last quarter. Finally, Morgan Stanley boosted its stake in AT&T by 37.3% during the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares during the period. 53.65% of the stock is currently owned by hedge funds and other institutional investors.
AT&T Trading Down 0.9 %
T opened at $15.09 on Tuesday. The business has a 50 day simple moving average of $14.46 and a two-hundred day simple moving average of $16.33. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market capitalization of $107.88 billion, a price-to-earnings ratio of -12.37, a PEG ratio of 1.87 and a beta of 0.64. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50.
AT&T Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.11 annualized dividend and a dividend yield of 7.36%. AT&T’s payout ratio is -90.98%.
Analysts Set New Price Targets
T has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. JPMorgan Chase & Co. lowered 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 research report on Friday, July 14th. Moffett Nathanson raised shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price target on the stock in a report on Tuesday, June 6th. Barclays dropped their price objective on shares of AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Finally, Argus cut AT&T from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Nine research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.
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.
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