AT&T Inc. (NYSE:T) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in AT&T Inc. (NYSE:T - Free Report) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 499,518 shares of the technology company's stock after selling 40,799 shares during the quarter. Kentucky Retirement Systems' holdings in AT&T were worth $10,989,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of T. Davidson Kempner Capital Management LP acquired a new stake in AT&T in the second quarter valued at $23,888,000. Talbot Financial LLC purchased a new stake in shares of AT&T in the third quarter worth approximately $7,438,000. Mackenzie Financial Corp lifted its stake in AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company's stock valued at $50,486,000 after acquiring an additional 288,093 shares in the last quarter. DRW Securities LLC boosted its holdings in AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company's stock worth $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of AT&T by 7.2% during the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company's stock valued at $8,928,000 after acquiring an additional 26,706 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Scotiabank lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Redburn Atlantic upgraded shares of AT&T to a "strong sell" rating in a research report on Monday, September 16th. Daiwa America upgraded AT&T to a "hold" rating in a report on Friday, July 26th. Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.40.

AT&T Stock Performance

NYSE:T traded up $0.43 during midday trading on Friday, reaching $22.68. The stock had a trading volume of 40,207,263 shares, compared to its average volume of 35,514,727. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $162.74 billion, a P/E ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.75 and a 12-month high of $22.75. The firm has a fifty day simple moving average of $21.89 and a two-hundred day simple moving average of $19.71.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the firm posted $0.64 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T's dividend payout ratio is currently 90.24%.

AT&T 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.