2,775,301 Shares in AT&T Inc. $T Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 2,775,301 shares of AT&T Inc. valued at approximately $80.3 million during the 2nd quarter, signaling strong institutional interest in the stock.
• AT&T's recent earnings report showed an EPS of $0.54, surpassing estimates, and revenue of $30.85 billion, reflecting a 3.4% increase compared to the previous year.
• The company announced a quarterly dividend of $0.2775 per share, representing a 4.2% dividend yield, which will be paid on November 3rd to stockholders of record on October 10th.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,775,301 shares of the technology company's stock, valued at approximately $80,317,000.

Several other large investors also recently added to or reduced their stakes in the company. David J Yvars Group boosted its holdings in AT&T by 2.8% in the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock worth $402,000 after buying an additional 372 shares during the period. AllSquare Wealth Management LLC raised its holdings in AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after acquiring an additional 378 shares during the period. Barnes Wealth Management Group Inc lifted its position in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after acquiring an additional 380 shares in the last quarter. Kathmere Capital Management LLC raised its stake in shares of AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company's stock valued at $1,470,000 after purchasing an additional 381 shares during the period. Finally, James J. Burns & Company LLC lifted its holdings in AT&T by 1.0% during the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company's stock worth $1,168,000 after purchasing an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of AT&T stock opened at $26.33 on Friday. The firm has a market capitalization of $188.24 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The business's 50-day moving average price is $28.27 and its 200-day moving average price is $27.81.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. Sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm 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 dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. AT&T's payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on T. Sanford C. Bernstein upped their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Barclays restated an "equal weight" rating and set a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Scotiabank set a $30.25 price objective on shares of AT&T and gave the stock 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 assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.65.

AT&T Company Profile

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.

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