AT&T Inc. (NYSE:T) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its position in AT&T Inc. (NYSE:T - Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,542,467 shares of the technology company's stock after buying an additional 10,612 shares during the period. AT&T makes up about 0.6% of Illinois Municipal Retirement Fund's investment portfolio, making the stock its 16th biggest position. Illinois Municipal Retirement Fund's holdings in AT&T were worth $43,621,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in AT&T in the 4th quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T in the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in shares of AT&T in the fourth quarter worth about $27,000. Ball & Co Wealth Management Inc. purchased a new position in shares of AT&T during the 4th quarter valued at about $30,000. Finally, REAP Financial Group LLC grew its stake in shares of AT&T by 115.2% during the 4th quarter. REAP Financial Group LLC now owns 1,358 shares of the technology company's stock valued at $31,000 after acquiring an additional 727 shares during the period. Institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

T has been the topic of a number of recent analyst reports. Evercore ISI raised their target price on shares of AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. UBS Group restated a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Barclays boosted their price objective on AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.76.

AT&T Stock Up 0.3%

Shares of T stock traded up $0.08 during mid-day trading on Friday, hitting $28.08. The stock had a trading volume of 37,331,600 shares, compared to its average volume of 36,457,019. AT&T Inc. has a 12-month low of $18.14 and a 12-month high of $29.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm's 50-day moving average is $27.61 and its two-hundred day moving average is $25.91. The firm has a market capitalization of $202.02 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 3.96 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $30.63 billion for the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a net margin of 9.64% and a return on equity of 13.63%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. On average, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. AT&T's dividend payout ratio is presently 68.10%.

AT&T 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.