Retirement Systems of Alabama Has $64.67 Million Holdings in AT&T Inc. (NYSE:T)

Retirement Systems of Alabama decreased its position in shares of AT&T Inc. (NYSE:T - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,286,710 shares of the technology company's stock after selling 19,518 shares during the quarter. Retirement Systems of Alabama's holdings in AT&T were worth $64,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Minot DeBlois Advisors LLC acquired a new position in AT&T in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of AT&T during the 4th quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC grew its position in shares of AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock worth $30,000 after buying an additional 430 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on T shares. Scotiabank reiterated an "outperform" rating on shares of AT&T in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Cowen reissued a "hold" rating on shares of AT&T in a research report on Thursday, April 24th. Oppenheimer raised their target price on AT&T from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Finally, Evercore ISI upped their price target on AT&T from $25.00 to $27.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $28.76.

AT&T Stock Performance

Shares of T stock opened at $27.65 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The firm has a 50-day moving average of $27.51 and a 200-day moving average of $25.76. AT&T Inc. has a one year low of $17.90 and a one year high of $29.03. The company has a market cap of $198.92 billion, a P/E ratio of 16.96, a P/E/G ratio of 3.85 and a beta of 0.41.

AT&T (NYSE:T - Get Free Report) last issued 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 return on equity of 13.63% and a net margin of 9.64%. The firm had revenue of $30.63 billion during the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the previous year, the company posted $0.55 earnings per share. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

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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