Kentucky Retirement Systems Insurance Trust Fund Cuts Holdings in AT&T Inc. (NYSE:T)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,555 shares of the technology company's stock after selling 25,737 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in AT&T were worth $4,248,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Northeast Investment Management raised its position in AT&T by 0.9% during the fourth quarter. Northeast Investment Management now owns 51,198 shares of the technology company's stock valued at $1,166,000 after acquiring an additional 451 shares in the last quarter. Chesapeake Wealth Management increased its position in shares of AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company's stock valued at $535,000 after buying an additional 460 shares in the last quarter. Luts & Greenleigh Group Inc. increased its position in shares of AT&T by 2.8% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 16,905 shares of the technology company's stock valued at $385,000 after buying an additional 460 shares in the last quarter. Socha Financial Group LLC increased its position in shares of AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company's stock valued at $415,000 after buying an additional 461 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC increased its position in shares of AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company's stock valued at $759,000 after buying an additional 468 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 1.9 %

NYSE:T traded up $0.49 on Friday, reaching $26.64. The company's stock had a trading volume of 58,384,223 shares, compared to its average volume of 38,439,449. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $26.72. 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 firm has a market cap of $191.19 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 3.01 and a beta of 0.59. The stock has a 50 day moving average price of $23.50 and a 200 day moving average price of $22.28.

AT&T (NYSE:T - Get Free Report) last posted 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 return on equity of 13.97% and a net margin of 8.95%. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.17%. AT&T's dividend payout ratio is currently 74.50%.

Analyst Ratings Changes

A number of research firms have recently commented on T. New Street Research upgraded AT&T from a "neutral" rating to a "buy" rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Oppenheimer began coverage on AT&T in a research report on Tuesday, December 10th. They issued an "outperform" rating and a $28.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on AT&T from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price target on AT&T from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average target price of $26.33.

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.