Public Sector Pension Investment Board Acquires 3,008,549 Shares of AT&T Inc. (NYSE:T)

Public Sector Pension Investment Board lifted its holdings in shares of AT&T Inc. (NYSE:T) by 1,901.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,166,814 shares of the technology company’s stock after acquiring an additional 3,008,549 shares during the period. Public Sector Pension Investment Board’s holdings in AT&T were worth $60,518,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Vantage Financial Partners LLC boosted its stake in shares of AT&T by 25.5% in the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after purchasing an additional 7,762 shares in the last quarter. Gilbert & Cook Inc. grew its stake in AT&T by 4.1% during the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after buying an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC increased its holdings in shares of AT&T by 4.5% during the fourth quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after buying an additional 1,194 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of AT&T by 21.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after acquiring an additional 4,870 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Moffett Nathanson raised their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Oppenheimer upped their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has an average rating of “Hold” and an average target price of $22.31.

AT&T Stock Up 0.8 %

AT&T stock opened at $21.54 on Monday. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market capitalization of $154.45 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 3.79 and a beta of 0.59. The company’s 50 day simple moving average is $19.88 and its 200 day simple moving average is $18.35.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.