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

Teacher Retirement System of Texas trimmed its position in AT&T Inc. (NYSE:T) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,161,899 shares of the technology company’s stock after selling 110,647 shares during the quarter. Teacher Retirement System of Texas’ holdings in AT&T were worth $61,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after purchasing an additional 10,310,560 shares during the last quarter. State Street Corp boosted its holdings in shares of AT&T by 2.4% in the 2nd quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock valued at $9,291,781,000 after buying an additional 7,404,376 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AT&T by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock worth $4,958,066,000 after buying an additional 2,066,026 shares during the last quarter. Norges Bank bought a new position in shares of AT&T during the 2nd quarter worth approximately $2,228,655,000. Finally, Ameriprise Financial Inc. raised its stake in shares of AT&T by 8.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 55,247,484 shares of the technology company’s stock worth $1,598,697,000 after acquiring an additional 4,404,688 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 0.4%

Shares of T stock opened at $23.59 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a fifty-two week low of $22.22 and a fifty-two week high of $29.79. The firm has a market capitalization of $167.24 billion, a PE ratio of 7.66, a P/E/G ratio of 1.28 and a beta of 0.39. The stock’s 50-day simple moving average is $24.66 and its 200-day simple moving average is $26.48.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is 36.04%.

Analyst Ratings Changes

Several equities analysts have issued reports on T shares. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company lowered their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Morgan Stanley dropped their target price on AT&T from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Arete Research set a $20.00 target price on AT&T in a research report on Tuesday, January 6th. Finally, Wolfe Research downgraded AT&T from an “outperform” rating to a “peer perform” rating in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.