AT&T Inc. $T Stock Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in shares of AT&T Inc. (NYSE:T) by 34.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,437,000 shares of the technology company’s stock after selling 753,884 shares during the quarter. Retirement Systems of Alabama’s holdings in AT&T were worth $35,063,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of T. Orion Capital Management LLC acquired a new position in shares of AT&T in the 2nd quarter valued at about $26,000. Addison Advisors LLC bought a new stake in shares of AT&T during the 2nd quarter valued at about $27,000. Robinswood Financial LLC bought a new stake in shares of AT&T during the 1st quarter valued at about $29,000. Matrix Trust Co grew its stake in AT&T by 331.8% during the second quarter. Matrix Trust Co now owns 1,494 shares of the technology company’s stock worth $31,000 after purchasing an additional 1,148 shares during the period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in AT&T during the third quarter worth approximately $34,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research analyst reports. Daiwa Securities Group lowered their target price on AT&T from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Wells Fargo & Company increased their price target on AT&T from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. TD Cowen restated a “hold” rating and set a $33.00 price target on shares of AT&T in a report on Thursday, October 22nd. Moffett Nathanson reduced their price objective on shares of AT&T from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, September 22nd. Finally, The Goldman Sachs Group set a $27.00 price objective on shares of AT&T in a research note on Wednesday, October 21st. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

More AT&T News

Here are the key news stories impacting AT&T this week:

• Positive Sentiment: AT&T says it plans to maintain its annual dividend at $1.11 per share and repurchase about $10 billion of stock this year. One valuation analysis also suggests the shares could be roughly 34% below fair value, though that estimate depends on the company’s ability to generate cash over time. Article: The 10-Year Treasury Just Hit 5%. AT&T Pays About the Same Article: AT&T Stock May Be 34% Below Fair Value
• Positive Sentiment: A Cullen Capital Management filing disclosed a purchase of about 1.89 million AT&T shares as of September 30. The delayed filing is a modest positive signal, but does not indicate current trading. Article: Fund Update
• Neutral Sentiment: Dividend-focused analysis describes AT&T’s payout as relatively safe but not growing. The 5% 10-year Treasury yield offers investors a competing income option, potentially limiting the appeal of AT&T’s dividend. Article: How Safe Is Each Dividend Check?
• Negative Sentiment: Coverage emphasized AT&T’s substantial debt burden. Separately, Jim Cramer urged investors to sell, citing the prospect of SpaceX’s Starlink Mobile entering wireless through a nationwide 5G network partnership with Qualcomm. That is a competitive concern, not evidence of an immediate impact on AT&T’s results. Article: Should Dividend Stock Investors Buy AT&T Stock? Article: Jim Cramer on SpaceX and AT&T

AT&T Trading Up 0.7%

Shares of AT&T stock opened at $21.95 on Wednesday. The stock has a market capitalization of $147.89 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.08 and a beta of 0.30. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.43. The stock has a 50 day moving average price of $23.80 and a two-hundred day moving average price of $24.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.87.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The company had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. AT&T’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 2.40 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Friday, October 9th. AT&T’s payout ratio is 60.00%.

AT&T Profile

AT&T Inc. (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions. The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.