Teacher Retirement System of Texas Decreases Stock Holdings in AT&T Inc. $T

Teacher Retirement System of Texas decreased its position in AT&T Inc. (NYSE:T) by 9.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,272,546 shares of the technology company’s stock after selling 247,998 shares during the quarter. Teacher Retirement System of Texas’ holdings in AT&T were worth $65,767,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. GoalVest Advisory LLC increased its position in shares of AT&T by 2.8% in the second quarter. GoalVest Advisory LLC now owns 79,916 shares of the technology company’s stock valued at $2,313,000 after acquiring an additional 2,198 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of AT&T by 41.3% in the second quarter. Ashton Thomas Private Wealth LLC now owns 57,729 shares of the technology company’s stock valued at $1,671,000 after acquiring an additional 16,879 shares during the period. Solstein Capital LLC increased its position in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the period. MorganRosel Wealth Management LLC increased its position in shares of AT&T by 53.7% during the second quarter. MorganRosel Wealth Management LLC now owns 2,372 shares of the technology company’s stock valued at $69,000 after buying an additional 829 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of AT&T by 19.4% during the second quarter. Envestnet Asset Management Inc. now owns 15,523,889 shares of the technology company’s stock valued at $449,197,000 after buying an additional 2,525,372 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several research analyst reports. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Barclays reduced their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Price Performance

Shares of T opened at $25.17 on Monday. The stock has a market cap of $179.95 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 2.03 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The firm’s 50-day simple moving average is $27.97 and its two-hundred day simple moving average is $27.76.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

About AT&T

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.