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

Burkett Financial Services LLC raised its stake in AT&T Inc. (NYSE:T) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,884 shares of the technology company’s stock after purchasing an additional 822 shares during the quarter. AT&T comprises about 0.8% of Burkett Financial Services LLC’s investment portfolio, making the stock its 14th biggest position. Burkett Financial Services LLC’s holdings in AT&T were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Next Level Private LLC lifted its holdings in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after buying an additional 379 shares in the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after acquiring an additional 384 shares during the last quarter. Firethorn Wealth Partners LLC lifted its stake in shares of AT&T by 4.1% in the first quarter. Firethorn Wealth Partners LLC now owns 10,114 shares of the technology company’s stock worth $286,000 after acquiring an additional 399 shares in the last quarter. Buska Wealth Management LLC boosted its holdings in AT&T by 3.2% in the fourth quarter. Buska Wealth Management LLC now owns 13,391 shares of the technology company’s stock valued at $305,000 after purchasing an additional 412 shares during the last quarter. Finally, Beacon Financial Group grew its stake in AT&T by 2.9% during the 1st quarter. Beacon Financial Group now owns 14,976 shares of the technology company’s stock valued at $424,000 after purchasing an additional 417 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Tigress Financial increased their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their price target on AT&T from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

AT&T Stock Performance

Shares of NYSE T opened at $27.76 on Friday. AT&T Inc. has a 1 year low of $17.42 and a 1 year high of $29.03. The firm has a market cap of $199.72 billion, a P/E ratio of 18.63, a PEG ratio of 3.00 and a beta of 0.41. The stock has a fifty day moving average price of $27.33 and a two-hundred day moving average price of $25.41. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the prior year, the business earned $0.55 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

About AT&T

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.