Burkett Financial Services LLC Has $2.38 Million Stock Holdings in AT&T Inc. $T

Key Points

• Burkett Financial Services LLC increased its stake in AT&T Inc. by 13.0%, now holding a total of 82,375 shares valued at approximately $2.38 million, making AT&T its 15th largest holding.
• Several large investors have significantly boosted their positions in AT&T, with Ontario Teachers Pension Plan Board increasing their shares by 30,527.5% in the 1st quarter.
• Analysts generally favor AT&T, as indicated by recent price target adjustments, with ratings including one Strong Buy and seventeen Buy ratings, reflecting an overall positive outlook for the stock.

Burkett Financial Services LLC increased its position in shares of AT&T Inc. (NYSE:T - Free Report) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,375 shares of the technology company's stock after acquiring an additional 9,491 shares during the period. AT&T comprises 0.9% of Burkett Financial Services LLC's holdings, making the stock its 15th largest holding. Burkett Financial Services LLC's holdings in AT&T were worth $2,384,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in T. Nuveen LLC acquired a new stake in shares of AT&T during the 1st quarter worth approximately $1,072,128,000. GQG Partners LLC boosted its position in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AT&T by 31.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position 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 in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on T. Raymond James Financial reiterated a "strong-buy" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Morgan Stanley increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company increased their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $30.60.

AT&T Stock Performance

Shares of AT&T stock opened at $29.59 on Friday. The stock has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company's fifty day moving average is $28.31 and its 200 day moving average is $27.73. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's payout ratio is currently 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.

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