Public Employees Retirement Association of Colorado lessened its position in AT&T Inc. (NYSE:T – Free Report) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,145,745 shares of the technology company’s stock after selling 11,252 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in AT&T were worth $18,275,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in T. Steward Financial Group LLC lifted its holdings in AT&T by 159.7% during the 1st quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock valued at $30,000 after buying an additional 960 shares in the last quarter. Grey Fox Wealth Advisors LLC raised its stake in shares of AT&T by 41,000.0% during the first quarter. Grey Fox Wealth Advisors LLC now owns 1,644 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,640 shares in the last quarter. Sageworth Trust Co bought a new stake in shares of AT&T during the first quarter valued at approximately $32,000. FWL Investment Management LLC purchased a new stake in shares of AT&T in the fourth quarter valued at approximately $31,000. Finally, Financial Freedom LLC bought a new position in AT&T in the fourth quarter worth approximately $34,000. 53.65% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on T shares. JPMorgan Chase & Co. decreased their target price on AT&T from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, October 12th. Morgan Stanley dropped their target price on shares of AT&T from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. StockNews.com initiated coverage on shares of AT&T in a report on Thursday, October 5th. They issued a “hold” rating for the company. Wells Fargo & Company dropped their price objective on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, July 20th. Finally, Royal Bank of Canada lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.90.
AT&T Stock Performance
Shares of T stock opened at $15.58 on Tuesday. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $20.50. The business’s fifty day simple moving average is $15.03 and its 200-day simple moving average is $15.26. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.08. The company has a market cap of $111.40 billion, a PE ratio of -10.12, a PEG ratio of 1.91 and a beta of 0.60.
AT&T (NYSE:T – Get Free Report) last announced its earnings results on Thursday, October 19th. The technology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. AT&T had a positive return on equity of 16.26% and a negative net margin of 9.29%. The firm had revenue of $30.35 billion for the quarter, compared to the consensus estimate of $30.25 billion. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that AT&T Inc. will post 2.44 earnings per share for the current fiscal year.
AT&T Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Friday, October 6th. AT&T’s payout ratio is currently -72.08%.
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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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