Berkshire Money Management Inc. Sells 4,123 Shares of AT&T Inc. (NYSE:T)

Berkshire Money Management Inc. lessened its position in AT&T Inc. (NYSE:T) by 25.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,773 shares of the technology company’s stock after selling 4,123 shares during the quarter. Berkshire Money Management Inc.’s holdings in AT&T were worth $268,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T in the third quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new stake in AT&T during the 4th quarter valued at approximately $34,000. Reston Wealth Management LLC bought a new position in AT&T during the 3rd quarter worth approximately $35,000. Finally, Safe Harbor Fiduciary LLC acquired a new position in shares of AT&T in the 3rd quarter worth approximately $35,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Tigress Financial lifted their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group upped their target price on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Scotiabank lifted their target price on AT&T from $24.00 to $26.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.21.

AT&T Stock Performance

Shares of T stock opened at $24.26 on Wednesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a 50-day moving average of $22.94 and a 200-day moving average of $21.70. AT&T Inc. has a one year low of $15.94 and a one year high of $24.98. The company has a market cap of $174.05 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.71 and a beta of 0.59.

AT&T (NYSE:T) last posted 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 8.95% and a return on equity of 13.97%. Equities research analysts forecast that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.58%. AT&T’s dividend payout ratio (DPR) is currently 74.50%.

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.