Burkett Financial Services LLC Boosts Stock Holdings in AT&T Inc. (NYSE:T)

Burkett Financial Services LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,062 shares of the technology company’s stock after acquiring an additional 775 shares during the period. AT&T accounts for about 0.7% of Burkett Financial Services LLC’s holdings, making the stock its 16th biggest position. Burkett Financial Services LLC’s holdings in AT&T were worth $1,641,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new stake in AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE boosted its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares during the period. Safe Harbor Fiduciary LLC bought a new position in AT&T in the 3rd quarter worth $35,000. Reston Wealth Management LLC bought a new position in AT&T in the 3rd quarter worth $35,000. Finally, Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on T shares. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. Sanford C. Bernstein started coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $25.76.

AT&T Stock Performance

Shares of T traded down $0.01 on Monday, reaching $22.66. The company’s stock had a trading volume of 15,113,566 shares, compared to its average volume of 22,752,854. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market capitalization of $162.59 billion, a P/E ratio of 18.42, a PEG ratio of 3.60 and a beta of 0.59. The stock’s 50 day simple moving average is $22.82 and its two-hundred day simple moving average is $21.11. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is currently 90.24%.

AT&T Company 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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.