Employees Retirement System of Texas Buys 93,802 Shares of AT&T Inc. (NYSE:T)

Employees Retirement System of Texas increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,304,302 shares of the technology company's stock after acquiring an additional 93,802 shares during the period. Employees Retirement System of Texas' holdings in AT&T were worth $29,699,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in T. Minot DeBlois Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in AT&T in the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in AT&T in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new position in AT&T in the fourth quarter valued at about $28,000. Finally, YANKCOM Partnership bought a new position in shares of AT&T in the fourth quarter worth about $30,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Williams Trading set a $30.00 target price on AT&T in a research report on Thursday, April 24th. Cowen restated a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. BNP Paribas upgraded shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective for the company in a report on Thursday, February 13th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.71.

AT&T Stock Performance

T stock traded down $0.03 during trading hours on Tuesday, reaching $27.39. The stock had a trading volume of 33,305,162 shares, compared to its average volume of 36,796,935. The stock has a market capitalization of $197.09 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a 50-day simple moving average of $27.32 and a 200 day simple moving average of $25.16. AT&T Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $29.03.

AT&T (NYSE:T - Get Free Report) last announced its quarterly 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 firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. Analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, April 10th. AT&T's payout ratio is presently 68.10%.

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.