Burns J W & Co. Inc. NY Sells 2,648 Shares of AT&T Inc. (NYSE:T)

Burns J W & Co. Inc. NY reduced its position in AT&T Inc. (NYSE:T) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,490 shares of the technology company’s stock after selling 2,648 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in AT&T were worth $444,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $25,000. Ritter Daniher Financial Advisory LLC DE lifted 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 worth $29,000 after buying an additional 841 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC bought a new position in shares of AT&T in the third quarter worth about $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in shares of AT&T during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T traded down $0.13 during trading on Monday, reaching $21.56. 29,809,533 shares of the company’s stock were exchanged, compared to its average volume of 33,200,465. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The business has a 50 day moving average price of $22.81 and a 200-day moving average price of $21.24. The stock has a market capitalization of $154.70 billion, a P/E ratio of 17.53, a PEG ratio of 3.60 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data 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 company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of several research analyst reports. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada raised AT&T from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $22.00 to $26.00 in a research note on Monday, January 6th. Barclays lifted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group increased their price objective on shares of AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.76.

AT&T 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.