AT&T Inc. (NYSE:T) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in AT&T Inc. (NYSE:T) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,650 shares of the technology company’s stock after selling 15,689 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in AT&T were worth $10,867,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ariadne Wealth Management LP acquired a new position in AT&T during the second quarter worth approximately $465,000. PVG Asset Management Corp acquired a new position in AT&T during the second quarter worth approximately $212,000. 3Chopt Investment Partners LLC increased its position in AT&T by 63.4% during the second quarter. 3Chopt Investment Partners LLC now owns 41,302 shares of the technology company’s stock worth $789,000 after purchasing an additional 16,030 shares during the last quarter. LHM Inc. increased its position in AT&T by 36.0% during the second quarter. LHM Inc. now owns 327,261 shares of the technology company’s stock worth $6,254,000 after purchasing an additional 86,590 shares during the last quarter. Finally, SPC Financial Inc. increased its position in AT&T by 5.3% during the second quarter. SPC Financial Inc. now owns 22,546 shares of the technology company’s stock worth $431,000 after purchasing an additional 1,131 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.6 %

Shares of NYSE:T opened at $22.13 on Wednesday. The stock has a market capitalization of $158.68 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The company’s fifty day moving average is $20.29 and its two-hundred day moving average is $18.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company earned $0.63 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

Several brokerages recently commented on T. Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, AT&T has an average rating of “Hold” and an average target price of $22.38.

AT&T Company Profile

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.