Burke & Herbert Bank & Trust Co. Cuts Holdings in AT&T Inc. (NYSE:T)

Burke & Herbert Bank & Trust Co. lowered its stake in shares of AT&T Inc. (NYSE:T) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of 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 worth $3,532,684,000 after purchasing an additional 3,630,972 shares during the last quarter. FMR LLC lifted 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 lifted 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. boosted its holdings in shares of AT&T by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,543,563 shares of the technology company’s stock valued at $399,467,000 after buying an additional 325,073 shares in the last quarter. Finally, National Pension Service raised its stake in shares of AT&T by 15.8% during the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after acquiring an additional 2,152,016 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group raised their target price on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Scotiabank raised their price objective on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 28th. Argus upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, January 16th. Oppenheimer started coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.33.

AT&T Stock Performance

T opened at $25.88 on Monday. The firm has a fifty day moving average price of $23.23 and a 200 day moving average price of $22.08. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $25.93. The stock has a market cap of $185.66 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.79 and a beta of 0.59. 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 (NYSE:T) last issued its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities research analysts anticipate that AT&T Inc. will post 2.15 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given 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 dividend payout ratio is currently 74.50%.

About AT&T

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.