Louisiana State Employees Retirement System Reduces Position in AT&T Inc. $T

Louisiana State Employees Retirement System lessened its stake in shares of AT&T Inc. (NYSE:T) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 379,700 shares of the technology company’s stock after selling 6,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in AT&T were worth $10,989,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the second quarter valued at approximately $26,000. Hager Investment Management Services LLC raised its holdings in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank raised its holdings in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Core Alternative Capital raised its holdings in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.0%

AT&T stock opened at $26.13 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $28.54 and its two-hundred day simple moving average is $27.91. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a market capitalization of $186.85 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.42.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research note on Monday. Finally, Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.