AT&T Inc. (NYSE:T) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 20.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,325,705 shares of the technology company's stock after selling 4,843,198 shares during the quarter. AT&T accounts for 0.8% of Federated Hermes Inc.'s holdings, making the stock its 22nd largest position. Federated Hermes Inc. owned approximately 0.26% of AT&T worth $307,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in AT&T by 1.2% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company's stock valued at $1,119,000 after purchasing an additional 547 shares during the period. SMH Capital Advisors Inc. grew its holdings in AT&T by 1.8% in the fourth quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company's stock valued at $585,000 after purchasing an additional 565 shares during the period. Kahn Brothers Group Inc. grew its holdings in AT&T by 3.4% in the fourth quarter. Kahn Brothers Group Inc. now owns 17,329 shares of the technology company's stock valued at $319,000 after purchasing an additional 575 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in AT&T by 35.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company's stock valued at $39,000 after purchasing an additional 606 shares during the period. Finally, JB Capital LLC grew its holdings in AT&T by 2.4% in the fourth quarter. JB Capital LLC now owns 26,620 shares of the technology company's stock valued at $447,000 after purchasing an additional 614 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.3 %

NYSE:T traded up $0.21 on Thursday, reaching $16.33. The company's stock had a trading volume of 29,561,529 shares, compared to its average volume of 38,480,980. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.83. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The firm has a market cap of $116.81 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The stock has a 50 day moving average price of $17.01 and a 200 day moving average price of $16.48.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion during the quarter, compared to analysts' expectations of $31.44 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. AT&T's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.80%. AT&T's dividend payout ratio is presently 56.63%.

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. Barclays lifted their price target on AT&T from $17.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 31st. StockNews.com lowered AT&T from a "buy" rating to a "hold" rating in a research note on Thursday, April 4th. Wolfe Research raised AT&T from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, January 25th. Finally, TheStreet raised AT&T from a "c" rating to a "b-" rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.68.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.