Federated Hermes Inc. Sells 4,843,198 Shares of AT&T Inc. (NYSE:T)

Federated Hermes Inc. lowered its position in AT&T Inc. (NYSE:T) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,325,705 shares of the technology company’s stock after selling 4,843,198 shares during the quarter. AT&T comprises approximately 0.8% of Federated Hermes Inc.’s portfolio, making the stock its 22nd largest holding. Federated Hermes Inc. owned approximately 0.26% of AT&T worth $307,505,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Carmel Capital Partners LLC grew its position in AT&T by 16,250.0% in the third 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. Lipe & Dalton purchased a new position in AT&T in the third quarter worth $30,000. Ramirez Asset Management Inc. purchased a new stake in AT&T during the third quarter valued at about $30,000. FWL Investment Management LLC purchased a new stake in AT&T during the fourth quarter valued at about $31,000. Finally, Financial Freedom LLC purchased a new stake in AT&T during the fourth quarter valued at about $34,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T traded up $0.09 on Thursday, reaching $16.21. 12,201,945 shares of the company’s stock traded hands, compared to its average volume of 38,233,879. 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 stock has a 50-day simple moving average of $17.02 and a 200-day simple moving average of $16.48. The firm has a market cap of $115.95 billion, a PE ratio of 8.27, a P/E/G ratio of 2.43 and a beta of 0.57. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.83.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is presently 56.63%.

Analyst Ratings Changes

T has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and upped their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Barclays upped their price target on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, Tigress Financial upped their price target on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.68.

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.