Federated Hermes Inc. Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Federated Hermes Inc. reduced its position in shares of AT&T Inc. (NYSE:T) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,325,705 shares of the technology company’s stock after selling 4,843,198 shares during the period. AT&T comprises approximately 0.8% of Federated Hermes Inc.’s portfolio, making the stock its 22nd largest position. Federated Hermes Inc.’s holdings in AT&T were worth $307,505,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Carmel Capital Partners LLC raised its stake in AT&T by 16,250.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,625 shares in the last quarter. FWL Investment Management LLC acquired a new stake in AT&T during the 4th quarter worth $31,000. Financial Freedom LLC acquired a new stake in AT&T during the 4th quarter worth $34,000. Lipe & Dalton acquired a new stake in AT&T during the 3rd quarter worth $30,000. Finally, Ramirez Asset Management Inc. acquired a new stake in AT&T during the 3rd quarter worth $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Barclays lifted their target price on shares of AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Citigroup upped their price target on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Friday, January 19th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.68.

AT&T Stock Up 0.6 %

Shares of T stock traded up $0.09 on Thursday, hitting $16.21. The stock had a trading volume of 12,201,945 shares, compared to its average volume of 38,233,879. The firm has a market capitalization of $115.95 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 2.43 and a beta of 0.57. The stock’s 50 day moving average is $17.02 and its 200-day moving average is $16.48. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $19.83.

AT&T (NYSE:T) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. AT&T’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 earnings per share. As a group, research analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid 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 6.85%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

About AT&T

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.