AT&T Inc. $T Shares Bought by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in AT&T Inc. by 2.7% during the second quarter, owning over 3.2 million shares valued at approximately $93.5 million.
• Several analysts have updated their ratings for AT&T, with Goldman Sachs initiating coverage with a buy rating and a price target of $32.00, while HSBC downgraded it to a hold with a price target of $30.00.
• AT&T's latest earnings report showed earnings per share of $0.54, exceeding estimates, with revenue reaching $30.85 billion, a 3.4% increase year-over-year.

Public Employees Retirement System of Ohio grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,232,421 shares of the technology company's stock after buying an additional 85,854 shares during the period. Public Employees Retirement System of Ohio's holdings in AT&T were worth $93,546,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of T. David J Yvars Group lifted its stake in shares of AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock worth $402,000 after acquiring an additional 372 shares in the last quarter. AllSquare Wealth Management LLC boosted its holdings in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after buying an additional 378 shares during the period. Next Level Private LLC raised its stake in AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares during the period. Barnes Wealth Management Group Inc grew its position in AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after purchasing an additional 380 shares during the last quarter. Finally, James J. Burns & Company LLC lifted its stake in AT&T by 1.0% during the second quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company's stock valued at $1,168,000 after purchasing an additional 383 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

T has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price target on the stock. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a report on Thursday, July 24th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target 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, JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.74.

AT&T Price Performance

NYSE:T opened at $28.78 on Wednesday. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. 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 firm has a fifty day simple moving average of $28.52 and a 200 day simple moving average of $27.85. The stock has a market capitalization of $205.75 billion, a PE ratio of 16.35, a P/E/G ratio of 3.58 and a beta of 0.44.

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

About AT&T

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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