Burney Co. Has $1.48 Million Holdings in AT&T Inc. (NYSE:T)

Key Points

• Burney Co. boosted its holdings in AT&T Inc. by 34.2% in the 1st quarter, acquiring an additional 13,350 shares, bringing their total to 52,393 shares valued at approximately $1.48 million.
• AT&T's recent financial performance showed earnings per share of $0.54 and revenue of $30.85 billion, surpassing analyst expectations, with an annual revenue increase of 3.4% compared to the previous year.
• The company declared a quarterly dividend of $0.2775 per share, which translates to an annualized dividend yield of 3.96%, with a payout ratio of 63.07%.

Burney Co. lifted its holdings in AT&T Inc. (NYSE:T - Free Report) by 34.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,393 shares of the technology company's stock after buying an additional 13,350 shares during the quarter. Burney Co.'s holdings in AT&T were worth $1,482,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of AT&T in the 4th quarter valued at about $392,000. TIAA Trust National Association increased its stake in shares of AT&T by 1.8% in the 4th quarter. TIAA Trust National Association now owns 229,986 shares of the technology company's stock valued at $5,237,000 after acquiring an additional 4,081 shares during the last quarter. Financial Engines Advisors L.L.C. increased its stake in shares of AT&T by 58.4% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 25,546 shares of the technology company's stock valued at $582,000 after acquiring an additional 9,418 shares during the last quarter. Finally, Heritage Wealth Advisors increased its stake in shares of AT&T by 24.3% in the 4th quarter. Heritage Wealth Advisors now owns 3,836 shares of the technology company's stock valued at $87,000 after acquiring an additional 751 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on T shares. Morgan Stanley upped their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. Royal Bank Of Canada upped their price target on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Thursday. Finally, Wall Street Zen raised AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.66.

AT&T Stock Down 1.0%

NYSE:T traded down $0.29 during trading hours on Monday, reaching $27.72. 10,944,613 shares of the stock were exchanged, compared to its average volume of 37,984,289. AT&T Inc. has a twelve month low of $18.64 and a twelve month high of $29.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a 50 day moving average of $27.81 and a 200 day moving average of $26.68. The stock has a market cap of $199.43 billion, a PE ratio of 15.75, a PEG ratio of 3.49 and a beta of 0.42.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's dividend payout ratio (DPR) is currently 63.07%.

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.