AT&T Inc. $T Position Lessened by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its stake in shares of AT&T Inc. (NYSE:T) by 0.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,079,798 shares of the technology company’s stock after selling 15,556 shares during the period. State Board of Administration of Florida Retirement System’s holdings in AT&T were worth $204,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the second quarter worth about $5,266,758,000. Nuveen LLC acquired a new position in AT&T during the 1st quarter valued at about $1,072,128,000. GQG Partners LLC boosted its stake in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board grew its position in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after purchasing an additional 10,310,560 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Finally, TD Cowen lifted their price objective on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T Stock Performance

Shares of NYSE T opened at $25.86 on Thursday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The firm has a market cap of $183.30 billion, a P/E ratio of 8.39, a PEG ratio of 2.16 and a beta of 0.40. The stock has a fifty day moving average price of $26.15 and a two-hundred day moving average price of $27.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

About AT&T

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.