New York State Teachers Retirement System Cuts Holdings in AT&T Inc. $T

New York State Teachers Retirement System decreased its position in AT&T Inc. (NYSE:T) by 0.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,444,457 shares of the technology company’s stock after selling 58,430 shares during the period. New York State Teachers Retirement System’s holdings in AT&T were worth $181,991,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. J. L. Bainbridge & Co. Inc. increased its position in shares of AT&T by 1.7% during the second quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock valued at $615,000 after acquiring an additional 355 shares during the last quarter. Financial & Tax Architects LLC grew its stake in AT&T by 4.9% in the 2nd quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock valued at $220,000 after purchasing an additional 356 shares during the period. Roberts Glore & Co. Inc. IL grew its stake in AT&T by 2.0% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after purchasing an additional 357 shares during the period. Investment Partners LTD. increased its position in shares of AT&T by 3.5% during the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after purchasing an additional 357 shares during the last quarter. Finally, Parcion Private Wealth LLC raised its stake in shares of AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after purchasing an additional 364 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $24.00 on Friday. The firm’s 50 day moving average is $24.91 and its 200 day moving average is $26.77. The stock has a market capitalization of $170.11 billion, a P/E ratio of 7.79, a PEG ratio of 1.28 and a beta of 0.39. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a dividend of $0.2775 per share. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a dividend yield of 4.6%. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

T has been the subject of several research reports. Loop Capital set a $29.00 price target on shares of AT&T in a research report on Friday, December 19th. Barclays reduced their target price on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Wells Fargo & Company decreased their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Scotiabank reiterated a “sector perform” rating and issued a $29.50 price objective on shares of AT&T in a research note on Wednesday. Finally, Citigroup reduced their price objective on AT&T from $32.00 to $29.00 and set a “buy” rating for the company in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.42.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.