Berkshire Money Management Inc. Grows Stock Position in AT&T Inc. (NYSE:T)

by · The Cerbat Gem

Berkshire Money Management Inc. increased its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,896 shares of the technology company’s stock after acquiring an additional 3,071 shares during the period. Berkshire Money Management Inc.’s holdings in AT&T were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its stake in AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after buying an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. raised its stake in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of AT&T during the second quarter worth $78,570,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.1 %

NYSE:T opened at $21.74 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock’s 50 day simple moving average is $20.90 and its 200-day simple moving average is $18.93. AT&T Inc. has a 12-month low of $14.31 and a 12-month high of $22.34. The firm has a market cap of $155.84 billion, a P/E ratio of 11.69, a PEG ratio of 3.63 and a beta of 0.60.

AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on T. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective on the stock. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company increased their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

Get Our Latest Stock Report on T

AT&T Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T – Free Report).