New Mexico Educational Retirement Board trimmed its stake in AT&T Inc. (NYSE:T) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 571,538 shares of the technology company’s stock after selling 51,100 shares during the period. AT&T makes up approximately 1.1% of New Mexico Educational Retirement Board’s portfolio, making the stock its 13th biggest holding. New Mexico Educational Retirement Board’s holdings in AT&T were worth $22,290,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of T. Ullmann Financial Group Inc. bought a new position in AT&T during the first quarter valued at approximately $101,000. Taylor Wealth Management Partners lifted its position in AT&T by 0.4% during the first quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock valued at $106,000 after buying an additional 11 shares during the period. Almanack Investment Partners LLC. purchased a new position in AT&T during the first quarter valued at $109,000. Sterling Investment Advisors Ltd. lifted its position in AT&T by 289.1% during the first quarter. Sterling Investment Advisors Ltd. now owns 2,724 shares of the technology company’s stock valued at $113,000 after buying an additional 2,024 shares during the period. Finally, CKW Financial Group lifted its position in AT&T by 83.9% during the second quarter. CKW Financial Group now owns 3,780 shares of the technology company’s stock valued at $144,000 after buying an additional 1,724 shares during the period. Institutional investors own 55.21% of the company’s stock.
Shares of AT&T Inc. (T) opened at $33.72 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $209,769.63, a price-to-earnings ratio of 11.66, a P/E/G ratio of 2.75 and a beta of 0.42. AT&T Inc. has a 12 month low of $32.55 and a 12 month high of $43.03.
AT&T (NYSE:T) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business had revenue of $39.67 billion during the quarter, compared to analysts’ expectations of $40.34 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. analysts anticipate that AT&T Inc. will post 2.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.81%. The ex-dividend date was Friday, October 6th. AT&T’s dividend payout ratio (DPR) is 94.69%.
Several equities analysts have recently weighed in on T shares. Macquarie restated a “buy” rating and set a $43.00 price target on shares of AT&T in a report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Thursday, August 24th. Vetr downgraded AT&T from a “strong-buy” rating to a “buy” rating and set a $40.69 price objective for the company. in a report on Wednesday, July 26th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Wednesday, October 11th. Finally, Standpoint Research initiated coverage on AT&T in a report on Wednesday, November 8th. They issued a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $43.48.
In related news, Director Matthew K. Rose bought 29,600 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were purchased at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now directly owns 3,100 shares in the company, valued at $104,625. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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