New York State Common Retirement Fund Sells 843,243 Shares of AT&T Inc. (NYSE:T)

New York State Common Retirement Fund cut its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,912,647 shares of the technology company's stock after selling 843,243 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of AT&T worth $166,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sora Investors LLC acquired a new position in shares of AT&T during the third quarter valued at about $11,265,000. Robeco Institutional Asset Management B.V. boosted its position in shares of AT&T by 2.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 17,258,265 shares of the technology company's stock valued at $259,219,000 after buying an additional 383,015 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in AT&T by 3.1% during the third quarter. Checchi Capital Advisers LLC now owns 38,929 shares of the technology company's stock worth $585,000 after buying an additional 1,178 shares in the last quarter. Retireful LLC purchased a new stake in shares of AT&T in the fourth quarter valued at about $1,163,000. Finally, Terril Brothers Inc. boosted its holdings in AT&T by 51.6% during the third quarter. Terril Brothers Inc. now owns 594,974 shares of the technology company's stock worth $8,937,000 after purchasing an additional 202,637 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on T. Oppenheimer raised shares of AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft raised their target price on AT&T from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, January 25th. Tigress Financial boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, January 31st. TheStreet upgraded AT&T from a "c" rating to a "b-" rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised shares of AT&T from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

AT&T Price Performance

NYSE T traded down $0.21 during trading on Monday, reaching $16.31. The company's stock had a trading volume of 54,168,625 shares, compared to its average volume of 38,780,043. The firm has a fifty day moving average of $16.99 and a 200 day moving average of $16.53. AT&T Inc. has a one year low of $13.43 and a one year high of $18.16. The stock has a market capitalization of $116.63 billion, a PE ratio of 8.32, a P/E/G ratio of 2.49 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion during the quarter, compared to analysts' expectations of $31.44 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.81%. AT&T's dividend payout ratio is presently 56.63%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.

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