Retirement Systems of Alabama Trims Stock Holdings in AT&T Inc. (NYSE:T)

Retirement Systems of Alabama trimmed its holdings in AT&T Inc. (NYSE:T) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,306,228 shares of the technology company’s stock after selling 5,122 shares during the quarter. Retirement Systems of Alabama’s holdings in AT&T were worth $52,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. AMF Tjanstepension AB grew its stake in AT&T by 305.1% in the third quarter. AMF Tjanstepension AB now owns 1,541,724 shares of the technology company’s stock worth $33,918,000 after purchasing an additional 1,161,152 shares in the last quarter. Czech National Bank grew its stake in AT&T by 6.9% in the third quarter. Czech National Bank now owns 1,460,655 shares of the technology company’s stock worth $32,134,000 after purchasing an additional 94,312 shares in the last quarter. WealthBridge Capital Management LLC bought a new position in AT&T in the third quarter worth approximately $218,000. Diversified Trust Co grew its stake in AT&T by 12.8% in the third quarter. Diversified Trust Co now owns 169,227 shares of the technology company’s stock worth $3,723,000 after purchasing an additional 19,255 shares in the last quarter. Finally, Everpar Advisors LLC boosted its position in AT&T by 16.8% during the 3rd quarter. Everpar Advisors LLC now owns 12,474 shares of the technology company’s stock valued at $274,000 after acquiring an additional 1,796 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on T. Sanford C. Bernstein increased their target price on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Royal Bank of Canada increased their target price on AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Tigress Financial raised their price objective on AT&T from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on AT&T from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Evercore ISI raised their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.21.

AT&T Trading Up 0.0 %

T stock opened at $24.26 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.98. The stock has a market cap of $174.05 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 2.71 and a beta of 0.59. The business’s 50-day moving average is $22.94 and its 200 day moving average is $21.70.

AT&T (NYSE:T) last issued its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that AT&T Inc. will post 2.15 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, January 10th. AT&T’s payout ratio is presently 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.