Berkshire Money Management Inc. Has $239,000 Stake in AT&T Inc. $T

Berkshire Money Management Inc. trimmed its holdings in AT&T Inc. (NYSE:T) by 29.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,249 shares of the technology company’s stock after selling 3,521 shares during the period. Berkshire Money Management Inc.’s holdings in AT&T were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC acquired a new stake in AT&T in the second quarter valued at $5,266,758,000. Nuveen LLC bought a new position in AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC lifted its stake in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Saturday, September 27th. Scotiabank lifted their price target on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. Finally, Barclays restated an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Trading Up 0.2%

NYSE:T opened at $27.06 on Monday. The business has a 50 day simple moving average of $28.60 and a 200 day simple moving average of $27.93. The firm has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the prior year, the company posted $0.51 earnings per share. AT&T’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is presently 63.07%.

AT&T Company Profile

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.