AT&T Inc. (NYSE:T) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 14.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,220,919 shares of the technology company's stock after selling 4,240,441 shares during the period. California Public Employees Retirement System owned approximately 0.35% of AT&T worth $574,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in T. International Assets Investment Management LLC purchased a new stake in AT&T during the fourth quarter worth $14,700,000. Franklin Resources Inc. boosted its position in shares of AT&T by 41.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,947,913 shares of the technology company's stock worth $168,969,000 after buying an additional 2,326,904 shares in the last quarter. Consolidated Planning Corp grew its stake in AT&T by 7.4% in the 4th quarter. Consolidated Planning Corp now owns 320,089 shares of the technology company's stock valued at $7,288,000 after acquiring an additional 21,927 shares during the last quarter. Fortress Financial Solutions LLC purchased a new position in AT&T during the 4th quarter valued at about $691,000. Finally, West Family Investments Inc. raised its position in AT&T by 70.4% during the fourth quarter. West Family Investments Inc. now owns 37,961 shares of the technology company's stock worth $864,000 after acquiring an additional 15,680 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of AT&T from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. UBS Group increased their price objective on AT&T from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. New Street Research upgraded AT&T from a "neutral" rating to a "buy" rating in a research report on Tuesday, December 3rd. Finally, Scotiabank upped their target price on shares of AT&T from $26.00 to $28.50 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.21.

Remove Ads

AT&T Trading Down 1.1 %

T traded down $0.31 on Wednesday, reaching $28.17. 21,076,032 shares of the company's stock were exchanged, compared to its average volume of 36,237,144. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $28.61. The company's 50 day moving average is $25.94 and its 200-day moving average is $23.64. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market cap of $202.21 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 3.00 and a beta of 0.56.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.06. AT&T had a net margin of 8.95% and a return on equity of 13.97%. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Thursday, April 10th. AT&T's payout ratio is 74.50%.

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.