New Mexico Educational Retirement Board lowered its stake in shares of AT&T Inc. (NYSE:T – Get Rating) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 395,862 shares of the technology company's stock after selling 19,400 shares during the quarter. New Mexico Educational Retirement Board's holdings in AT&T were worth $8,297,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of AT&T in the 4th quarter valued at about $209,000. PDT Partners LLC bought a new position in AT&T during the 4th quarter worth approximately $3,692,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in AT&T by 35.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,822,284 shares of the technology company's stock worth $340,028,000 after acquiring an additional 3,599,900 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in AT&T by 3.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 7,559,439 shares of the technology company's stock worth $185,962,000 after acquiring an additional 255,400 shares during the last quarter. Finally, 626 Financial LLC bought a new position in AT&T during the 4th quarter worth approximately $220,000. Institutional investors own 52.88% of the company's stock.
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Analysts Set New Price Targets
Several research analysts recently weighed in on T shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Barclays dropped their target price on shares of AT&T from $20.00 to $18.00 and set an "equal weight" rating on the stock in a report on Thursday. StockNews.com downgraded shares of AT&T from a "buy" rating to a "hold" rating in a report on Thursday, September 22nd. Tigress Financial dropped their target price on shares of AT&T from $31.00 to $28.00 in a report on Thursday, June 16th. Finally, Cowen dropped their target price on shares of AT&T from $27.00 to $24.00 and set a "market perform" rating on the stock in a report on Friday, July 22nd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, AT&T presently has a consensus rating of "Hold" and an average price target of $23.29.
AT&T Stock Performance
Shares of AT&T stock traded down $0.09 during trading on Friday, reaching $15.44. The company's stock had a trading volume of 2,112,668 shares, compared to its average volume of 42,176,328. The business's 50-day moving average price is $17.55 and its 200-day moving average price is $19.78. The firm has a market cap of $110.03 billion, a PE ratio of 5.68, a P/E/G ratio of 1.86 and a beta of 0.48. AT&T Inc. has a 52 week low of $15.41 and a 52 week high of $21.53. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.96.
AT&T (NYSE:T – Get Rating) last announced its earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.05. The company had revenue of $29.64 billion during the quarter, compared to analysts' expectations of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. AT&T's quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.54 earnings per share for the current year.
AT&T Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.19%. AT&T's payout ratio is presently 40.81%.
AT&T Profile
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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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