Berkshire Bank Sells 1,401 Shares of AT&T Inc. (NYSE:T)

Berkshire Bank cut its stake in AT&T Inc. (NYSE:T) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,787 shares of the technology company’s stock after selling 1,401 shares during the quarter. Berkshire Bank’s holdings in AT&T were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in AT&T in the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares during the period. Endeavor Private Wealth Inc. purchased a new position in shares of AT&T in the fourth quarter worth approximately $34,000. Reston Wealth Management LLC bought a new stake in AT&T during the third quarter valued at approximately $35,000. Finally, Safe Harbor Fiduciary LLC bought a new position in AT&T in the third quarter worth approximately $35,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on T shares. Sanford C. Bernstein started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price objective for the company. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group lifted their price objective on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

AT&T Stock Up 6.2 %

Shares of T opened at $24.12 on Tuesday. 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 $173.05 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $24.37. The business’s 50 day simple moving average is $22.80 and its 200-day simple moving average is $21.48.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. As a group, equities analysts expect that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a yield of 4.60%. AT&T’s payout ratio is currently 90.24%.

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.