Public Employees Retirement Association of Colorado Sells 1,042,529 Shares of AT&T Inc. (NYSE:T)

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Public Employees Retirement Association of Colorado trimmed its position in shares of AT&T Inc. (NYSE:T) by 44.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,327,354 shares of the technology company’s stock after selling 1,042,529 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in AT&T were worth $50,227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. JJJ Advisors Inc. acquired a new stake in AT&T during the third quarter worth about $27,000. Horan Securities Inc. boosted its stake in shares of AT&T by 439.2% in the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after purchasing an additional 830 shares during the period. Next Capital Management LLC purchased a new position in shares of AT&T in the second quarter valued at approximately $39,000. Contravisory Investment Management Inc. boosted its stake in shares of AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new position in shares of AT&T in the third quarter valued at approximately $45,000. 52.94% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. DZ Bank reiterated a “hold” rating and issued a $38.00 price objective on shares of AT&T in a research report on Wednesday, September 18th. Raymond James restated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of AT&T in a research report on Tuesday, October 29th. Desjardins restated an “average” rating and set a $55.50 target price on shares of AT&T in a research report on Tuesday, August 6th. Barclays boosted their target price on shares of AT&T from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 10th. They noted that the move was a valuation call. Finally, Credit Suisse Group upgraded shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.74.

Shares of AT&T stock traded down $0.04 on Friday, hitting $39.38. The company’s stock had a trading volume of 18,270,257 shares, compared to its average volume of 30,604,307. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $39.58. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of $37.87 and a 200-day moving average price of $34.45. The company has a market capitalization of $287.75 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 2.47 and a beta of 0.64.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The business had revenue of $44.59 billion for the quarter, compared to analyst estimates of $45.45 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts expect that AT&T Inc. will post 3.57 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.51 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.04 annualized dividend and a dividend yield of 5.18%. AT&T’s dividend payout ratio is presently 57.95%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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