AT&T Inc. (NYSE:T) Position Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in AT&T Inc. (NYSE:T) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,677,701 shares of the technology company’s stock after selling 895,466 shares during the period. New York State Common Retirement Fund owned about 0.12% of AT&T worth $190,909,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Strategic Financial Concepts LLC increased its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC increased its holdings in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in AT&T during the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE:T traded down $0.10 during trading hours on Friday, hitting $22.44. 5,032,837 shares of the company traded hands, compared to its average volume of 35,633,574. 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 Inc. has a twelve month low of $15.46 and a twelve month high of $22.73. The firm has a 50-day moving average of $21.42 and a 200 day moving average of $19.27. The stock has a market capitalization of $161.01 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 3.31 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on T. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Evercore ISI increased their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Tigress Financial boosted their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Company Profile

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.