New York State Common Retirement Fund Sells 895,466 Shares of AT&T Inc. (NYSE:T)

New York State Common Retirement Fund decreased its holdings in shares of AT&T Inc. (NYSE:T) by 9.4% in the third quarter, Holdings Channel reports. The firm owned 8,677,701 shares of the technology company’s stock after selling 895,466 shares during the quarter. New York State Common Retirement Fund’s holdings in AT&T were worth $190,909,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC raised its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of AT&T during the third quarter valued at $35,000. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the 2nd quarter valued at $30,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AT&T in the 3rd quarter worth about $36,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 0.4 %

Shares of T traded down $0.10 on Friday, reaching $22.44. 5,032,837 shares of the company’s stock were exchanged, compared to its average volume of 35,633,574. The business has a 50 day moving average price of $21.42 and a two-hundred day moving average price of $19.27. AT&T Inc. has a 12 month low of $15.46 and a 12 month high of $22.73. The stock has a market capitalization of $161.01 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 3.31 and a beta of 0.60. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. Research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

About AT&T

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.