AT&T Inc. (NYSE:T) Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in AT&T Inc. by 7.9%, now holding approximately 2.4 million shares valued at $67.85 million.
• AT&T reported a quarterly earnings per share of $0.54, exceeding analysts' expectations, with a revenue of $30.85 billion, marking a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, translating to an annual yield of 3.9%, with a payout ratio of 63.07%.

State of New Jersey Common Pension Fund D reduced its position in AT&T Inc. (NYSE:T - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,399,245 shares of the technology company's stock after selling 205,934 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in AT&T were worth $67,851,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in T. Brighton Jones LLC increased its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC acquired a new stake in shares of AT&T in the 4th quarter worth $213,000. Ontario Teachers Pension Plan Board increased its stake in shares of AT&T by 7.2% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 39,048 shares of the technology company's stock worth $889,000 after acquiring an additional 2,639 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of AT&T in the 4th quarter worth $1,471,000. Finally, Evergreen Capital Management LLC increased its stake in shares of AT&T by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 109,340 shares of the technology company's stock worth $2,490,000 after acquiring an additional 542 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 1.3%

NYSE:T opened at $28.76 on Friday. The firm has a market cap of $205.61 billion, a P/E ratio of 16.34, a PEG ratio of 3.51 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. The stock's 50 day simple moving average is $27.89 and its 200-day simple moving average is $27.16. AT&T Inc. has a 12-month low of $18.97 and a 12-month high of $29.19.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is presently 63.07%.

Analyst Ratings Changes

A number of analysts recently issued reports on T shares. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. UBS Group reissued 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. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada raised their target price on AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.

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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