State Board of Administration of Florida Retirement System Reduces Stock Holdings in AT&T Inc. $T

State Board of Administration of Florida Retirement System lessened its stake in AT&T Inc. (NYSE:T) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,079,798 shares of the technology company’s stock after selling 15,556 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of AT&T worth $204,889,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T during the second quarter worth $5,266,758,000. Nuveen LLC acquired a new stake in AT&T during the 1st quarter valued at $1,072,128,000. GQG Partners LLC increased its stake in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after buying an additional 10,310,560 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 0.0%

NYSE:T opened at $25.86 on Thursday. The company has a market cap of $183.30 billion, a PE ratio of 8.39, a P/E/G ratio of 2.16 and a beta of 0.40. The business’s 50 day moving average is $26.15 and its two-hundred day moving average is $27.44. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. Scotiabank set a $30.25 target price on AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Wells Fargo & Company reduced their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Williams Trading set a $33.00 price objective on AT&T in a report on Thursday, October 23rd. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. Finally, UBS Group reissued a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.64.

AT&T Profile

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.