VIRGINIA RETIREMENT SYSTEMS ET Al Buys 1,718,902 Shares of AT&T Inc. $T

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in AT&T Inc. (NYSE:T) by 61.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,494,203 shares of the technology company’s stock after buying an additional 1,718,902 shares during the period. AT&T makes up about 0.8% of VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings, making the stock its 14th biggest holding. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of AT&T worth $126,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Front Row Advisors LLC bought a new position in AT&T in the second quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter valued at about $26,000. Kennebec Savings Bank raised its holdings in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Solstein Capital LLC lifted its position in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares during the last quarter. Finally, Curio Wealth LLC boosted its stake in AT&T by 26,100.0% in the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after buying an additional 1,044 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Loop Capital set a $29.00 target price on shares of AT&T in a research report on Friday, December 19th. The Goldman Sachs Group cut their price target on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, December 19th. TD Cowen lifted their price objective on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, Citigroup dropped their target price on AT&T from $32.00 to $29.00 and set a “buy” rating for the company in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.24.

AT&T Stock Performance

AT&T stock opened at $24.84 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm has a market cap of $176.07 billion, a P/E ratio of 8.06, a P/E/G ratio of 1.45 and a beta of 0.38. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The firm has a 50-day moving average of $25.02 and a 200-day moving average of $26.96.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the previous year, the business earned $0.60 EPS. AT&T’s revenue was up 1.7% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s payout ratio is 36.04%.

AT&T Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.