California State Teachers Retirement System Sells 532,451 Shares of AT&T Inc. (NYSE:T)

California State Teachers Retirement System decreased its position in shares of AT&T Inc. (NYSE:T - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,266,788 shares of the technology company's stock after selling 532,451 shares during the period. California State Teachers Retirement System owned 0.16% of AT&T worth $256,545,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Investment Management LLC purchased a new stake in AT&T during the 4th quarter valued at approximately $28,000. YANKCOM Partnership purchased a new stake in AT&T during the 4th quarter valued at approximately $30,000. Tradewinds Capital Management LLC grew its holdings in AT&T by 48.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,314 shares of the technology company's stock valued at $30,000 after buying an additional 430 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new stake in AT&T during the 4th quarter valued at approximately $34,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in AT&T during the 4th quarter valued at approximately $35,000. Institutional investors own 57.10% of the company's stock.

AT&T Price Performance

Shares of T opened at $26.80 on Monday. The company has a market cap of $192.38 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. AT&T Inc. has a twelve month low of $16.73 and a twelve month high of $29.03. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $26.96 and a two-hundred day moving average of $24.35.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $30.63 billion during the quarter, compared to analyst estimates of $30.39 billion. AT&T had a net margin of 8.95% and a return on equity of 13.97%. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, April 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.14%. AT&T's dividend payout ratio is presently 68.10%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent research reports. DZ Bank raised shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 target price for the company in a report on Wednesday, January 29th. Barclays raised their target price on shares of AT&T from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday. BNP Paribas raised shares of AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 target price for the company in a report on Thursday, February 13th. Williams Trading set a $30.00 target price on shares of AT&T in a report on Thursday. Finally, Tigress Financial lifted their price objective on shares of AT&T from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of "Moderate Buy" and an average price target of $28.62.

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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