New York State Common Retirement Fund Sells 235,624 Shares of AT&T Inc. (NYSE:T)

New York State Common Retirement Fund cut its holdings in AT&T Inc. (NYSE:T - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,548,077 shares of the technology company's stock after selling 235,624 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of AT&T worth $241,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in T. Minot DeBlois Advisors LLC bought a new stake in AT&T in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in AT&T in the 4th quarter valued at about $25,000. Putney Financial Group LLC bought a new stake in AT&T in the 4th quarter valued at about $27,000. Core Alternative Capital increased its position in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after buying an additional 568 shares in the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new position in AT&T during the 4th quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 2.4%

NYSE T opened at $26.97 on Friday. The stock's 50-day simple moving average is $27.82 and its two-hundred day simple moving average is $26.32. AT&T Inc. has a twelve month low of $18.14 and a twelve month high of $29.19. The company has a market capitalization of $194.07 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 3.37 and a beta of 0.42. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. AT&T's payout ratio is presently 68.10%.

Analyst Ratings Changes

A number of research firms have issued reports on T. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Oppenheimer lifted their price target on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Morgan Stanley reiterated an "overweight" rating and set a $31.00 price target (up previously from $30.00) on shares of AT&T in a research note on Thursday, April 24th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Barclays boosted their target price on AT&T from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.12.

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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