Teacher Retirement System of Texas Trims Stake in AT&T Inc. $T

Teacher Retirement System of Texas reduced its position in shares of AT&T Inc. (NYSE:T) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,272,546 shares of the technology company’s stock after selling 247,998 shares during the period. Teacher Retirement System of Texas’ holdings in AT&T were worth $65,767,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Parcion Private Wealth LLC grew its position in shares of AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after purchasing an additional 364 shares in the last quarter. David J Yvars Group grew its position in shares of AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after purchasing an additional 372 shares in the last quarter. AllSquare Wealth Management LLC grew its position in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after purchasing an additional 378 shares in the last quarter. Barnes Wealth Management Group Inc grew its position in shares of AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after purchasing an additional 380 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its position in shares of AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after purchasing an additional 381 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

AT&T stock opened at $25.17 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $179.95 billion, a PE ratio of 8.17, a P/E/G ratio of 2.03 and a beta of 0.42. The firm has a fifty day simple moving average of $27.97 and a two-hundred day simple moving average of $27.76. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.4%. AT&T’s payout ratio is currently 36.04%.

Analyst Ratings Changes

T has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Sanford C. Bernstein lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.67.

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.