Kentucky Retirement Systems Reduces Position in AT&T Inc. $T

Kentucky Retirement Systems decreased its position in AT&T Inc. (NYSE:T) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,159 shares of the technology company’s stock after selling 30,156 shares during the period. Kentucky Retirement Systems’ holdings in AT&T were worth $13,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Front Row Advisors LLC purchased a new position in shares of AT&T in the second quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T in the 2nd quarter worth approximately $26,000. Kennebec Savings Bank increased its holdings in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the period. Solstein Capital LLC raised its position in AT&T by 217.3% during 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 lifted its stake in AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,044 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.1%

Shares of AT&T stock opened at $24.57 on Friday. The firm has a 50-day simple moving average of $25.41 and a two-hundred day simple moving average of $27.26. 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 Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company has a market cap of $174.20 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s revenue for the quarter 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. 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 declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. TD Cowen increased their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $30.55.

AT&T Company 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.