AT&T Inc. $T Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System reduced its holdings in AT&T Inc. by 1.1%, selling 69,476 shares and holding approximately $188 million in shares as of the latest SEC filing.
• AT&T recently reported a quarterly revenue of $30.85 billion, exceeding analyst expectations, and announced a dividend of $0.2775 per share, yielding 4.3%.
• Analysts have varied ratings for AT&T, with one Strong Buy, sixteen Buy, and seven Hold ratings, leading to an average price target of $30.75.

New York State Teachers Retirement System trimmed its holdings in AT&T Inc. (NYSE:T - Free Report) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,502,887 shares of the technology company's stock after selling 69,476 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of AT&T worth $188,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. GAMMA Investing LLC boosted its holdings in shares of AT&T by 15.5% in the first quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company's stock valued at $4,673,000 after acquiring an additional 22,195 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of AT&T by 9.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,628,232 shares of the technology company's stock valued at $74,326,000 after acquiring an additional 230,460 shares during the period. Grove Bank & Trust boosted its holdings in shares of AT&T by 71.7% in the first quarter. Grove Bank & Trust now owns 21,352 shares of the technology company's stock valued at $604,000 after acquiring an additional 8,918 shares during the period. Finally, Optivise Advisory Services LLC acquired a new stake in shares of AT&T in the first quarter valued at approximately $202,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on T. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Weiss Ratings reissued a "buy (b)" rating on shares of AT&T in a report on Wednesday, October 8th. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Finally, Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and an average price target of $30.75.

AT&T Price Performance

AT&T stock opened at $26.07 on Thursday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business has a 50 day simple moving average of $28.34 and a 200-day simple moving average of $27.84. The stock has a market capitalization of $186.43 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T's dividend payout ratio is presently 63.07%.

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.

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